- GfK market research group
German GfK consumer climate remained stable in September, despite Europe's economic woes, research group Gfk said on Tuesday. The forward-looking consumer sentiment indicator, which accounts for a majority of overall economic activity, remained unchanged at 5.9 this month, while analysts had predicted consumer climate to rise by 0.1 point.
"Consumers are still tending to invest their money in higher value purchases, such as real estate, rather than saving it in the bank. This is verified by the distinctly low propensity to save," GfK said in a statement.
"Consumption therefore continues to truly fulfill its role as a reliable supporting pillar for the economy. Taking into consideration the crisis, 2012 is set to be a pleasing consumption year."
The Stoxx Europe 600 Index added 0.39 per cent to 275.78. Germany's DAX Index climbed 0.16 per cent to 7,425.11, while France's CAC 40 Index advanced 0.47 per cent to 3,513.81.
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