German Consumer Spending At Peak: Reports GfK

27 Jun 2013

Thanks to robust labour market & stiff salary hikes, climbed to 6.8 going into July - its highest level since September 2007 - from 6.5 in June.

Improvement has brought a hope for the German government, which is relying on domestic demand to prop up growth for 2103.

German employees have secured wage hikes of up to as high as 6.6% this year. Moderate inflation along with hikes has boosted shoppers' purchasing power. The increase in jobs and the stable job market has also acted as catalyst.

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