- GfK market research group
German consumer confidence remained unchanged in September, GfK market research group data showed on Tuesday. An index measuring consumer sentiment, based on a survey of 2,000 Germans, held steady at 5.9 from the previous month.
"Despite increasing international turbulence, German consumers maintained their strong willingness to buy. A stable labour market and high wage deals compared to previous years provide a good basis for making larger purchases," GfK said.
"Furthermore, due to the financial crisis and euro zone crisis, substantial reservations linger about putting money in the bank… Interest rates on savings are so low that they don't even cover inflation."
The Stoxx Europe 600 Index erased 0.70 per cent to 267.32. Germany's DAX Index fell 0.64 per cent and France's CAC 40 Index lost 0.90 per cent.
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