Germany's consumer confidence is set to slightly weaken at the end of the year as high inflation rates and global economic uncertainty weigh on households' sentiment, survey results from the GfK showed on Wednesday.
The forward-looking consumer confidence indicator is set to drop to 10.4 from 10.6 in November, the Nuremberg-based GfK said in its latest report. Economists had forecast a reading of 10.5.
"Whilst the propensity to buy has in fact been able to improve its already very good position, economic and income expectations have had to take slight hits," the market research group said.
The GfK confirmed its forecast that real private consumer spending will increase by around 1.5 percent this year. For 2017, the group had at least 1.5 percent growth, while the official figure was around 1.9 percent.
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