World Economy

German Consumer Morale Inches Down

German Consumer Morale Inches DownGerman Consumer Morale Inches Down

Morale among German consumers declined less than expected running into December and the willingness to buy even improved, a survey showed on Friday, a sign Christmas shoppers in Europe's largest economy are prepared to open their wallets.

The GfK consumer sentiment indicator, based on a survey of 2,000 Germans, inched down to 9.3 points from 9.4 points in the previous month, Reuters reported.

This was the lowest reading since February this year, but came in slightly above a Reuters consensus forecast of 9.2 points. Confidence in the economy among German consumers decreased for the sixth months running, although at a significantly slower pace.