Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

World

German consumer confidence resists recession

FRANKFURT, April 27 – German consumer confidence is resisting a deep recession in Europe\’s biggest economy, the latest survey by the GfK research institute showed on Monday.

A widely-tracked index compiled by GfK was stable at 2.5 points for May, the Nuremberg-based think tank said.

GfK\’s survey of around 2,000 people is the leading barometer of household confidence in Germany, which is suffering its worst recession in six decades.

The survey measures income expectations as well as consumers\’ outlook on the economy in general and their propensity to make major purchases.

Household confidence has held up owing to a very successful government car scrapping bonus, lower energy prices and higher pension payments, GfK found.

Hopes for an economic turnaround towards the end of the year, as demonstrated by an increase in the Ifo business climate index last week, have also helped keep consumers\’ moods from sinking, a statement said.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...