Consumer confidence in Germany rose by 3.1 points to -24.2 heading into May, surpassing experts' expectations. This positive trend marks the third consecutive monthly increase, with GfK noting a 'two-year high' in its barometer.
"Wage increases combined with a recent decline in the inflation rate form the basis for increased purchasing power among private households," said NIM consumer expert Rolf Burkl. He highlighted that consumers were buying more expensive items like cars and furniture.
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