FRANKFURT: Consumer confidence in Germany is on the rise again as households feel that economic recovery will gather pace in the coming months, a poll found on Wednesday.
"Consumers are working from the assumption that the German economy will regain momentum again in the months to come," market research company GfK said in a statement.
"Economic expectations rose in April, pulling up income expectations and consumers' willingness to spend from already very good levels," the statement said.
Looking to May, GfK's headline household confidence index was forecast to rise to 9.7 points from 9.4 points, the institute said.
The rise "confirms the GfK's forecast that private consumption will rise by around two percent in this year, after growth of 1.9 percent last year," it continued.
With the economy projected to grow by 1.6 percent overall, domestic demand would remain one of the main pillars of recovery, supported by rising employment, increasing income and very moderate inflation, GfK said.
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