BERLIN, Oct. 26 (Xinhua) -- Consumer confidence has dipped slightly in Germany, a regular study published on Thursday by the market research institute GfK finds.
The GfK's consumer confidence barometer for November fell by 0.1 points to 10.7 points.
Nevertheless, GfK expert Rolf Buerkl emphasized in a statement that the current buoyant spending mood of German citizens was still "unbroken."
Buerkl pointed towards data from the survey in November which suggested that Germans were also more inclined to make purchases of more expensive goods such as furniture or cars. GfK's corresponding index rose by 2.2 points to 59.2 points.
According to Buerkl, "high job and planning security, as well as noticeably rising incomes" meant that consumers were becoming more spendthrift. This prediction will come as welcome news to German retailers who are currently preparing for the start of the commercially-significant Christmas shopping season in November and December.
While expectations of economic growth rose in October according to the GfK figures, the Nuremberg-based institute's indicator for income expectations fell by four points to 48.7 points.
Buerkel warned that income insecurity stemming from the growing likelihood of a "hard" Brexit, U.S. protectionism, and protracted German coalition negotiations, in particular, posed risks to Germany's current economic momentum.
Nevertheless, the Gfk expert expressed confidence that the current level of income expectations was still "very good."
