- GfK market research company
German consumer confidence will improve in August, forecast market research company GfK SE. Consumer sentiment will climb to 5.9 from 5.8 the prior month, supported by rising wages.
"Rising employment and significantly improved income increases in comparison with previous years due to better wage agreements are providing a considerable boost to the mood in relation to income," GfK said in a statement.
Still, "consumers are increasingly fearful that the German economy will now also be drawn into the crisis," it said.
European stocks spiked on Thursday after ECB president Mario Draghi said the central bank will do whatever it is required to preserve the single currency.
The Stoxx Europe 600 Index rose 2.47 per cent to 256.58. Germany's DAX Index increased 2.75 per cent and France's CAC 40 Index rocketed 4.07 per cent.
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