25 may 2012 06: 37 GMT the takeaway: Gfk consumer confidence survey comes to 5.7 for June, is revised investigation more than 5.7-> report said German are encouraged by the growth of the economy-> EURUSD not moving much in today's meeting
German consumers are not concerned about the Greece.
It was the message of the investigation of June entered 5.7, Gfk consumer confidence in remaining regular inquiry may, revised more than 5.7. Analysts anticipated upcoming June 5.6 level, which was the initial result of survey last month.
The report by Gfk, stated that consumers are "much more optimistic" and their willingness to spend has also increased. However, expectations of revenue decreased slightly. The survey is based on interviews conducted by GFK with 2,000 consumers.
The report suggests that German consumers see the growth of the economy in the first quarter of this year as a rebound from slump from fourth quarter last year, and consumers are not concerned by the debt crisis euro affecting the Germany.
Report of positive consumer confidence of today follows the worse than expected confidence of German enterprises in may according to IFO yesterday. Despite the expansion of the Q1, businesses are concerned about the financial consequences of a Greek exit from the euro zone. Markit economics also announced yesterday that the German industrial production was measured at its lowest point since June 2009, while the managers of producer services index was higher for the month of May.
Despite the negative economic outlook of yesterday, the consumer confidence is in line with the forecasts of the European Commission of 0.7% expansion in Germany in 2012, contrary to a negative in all of the forecasts for the economy of the euro area.
Despite the German confidence stable, EURUSD has fallen down of 1.2517 today, back to the previous level before the report. Since yesterday afternoon, the couple did not moved much following a fall early in the morning to new lows of 2 years.
DailyFX provides news forex and technical analysis on trends affecting the world market currencies.
Learn forex trading with a free account of practice and exchange of graphics of FXCM.
25 May 2012 06: 37 GMT
German consumers are not concerned about the Greece.
It was the message of the investigation of June entered 5.7, Gfk consumer confidence in remaining regular inquiry may, revised more than 5.7. Analysts anticipated upcoming June 5.6 level, which was the initial result of survey last month.
The report by Gfk, stated that consumers are "much more optimistic" and their willingness to spend has also increased. However, expectations of revenue decreased slightly. The survey is based on interviews conducted by GFK with 2,000 consumers.
The report suggests that German consumers see the growth of the economy in the first quarter of this year as a rebound from slump from fourth quarter last year, and consumers are not concerned by the debt crisis euro affecting the Germany.
Report of positive consumer confidence of today follows the worse than expected confidence of German enterprises in may according to IFO yesterday. Despite the expansion of the Q1, businesses are concerned about the financial consequences of a Greek exit from the euro zone. Markit economics also announced yesterday that the German industrial production was measured at its lowest point since June 2009, while the managers of producer services index was higher for the month of May.
Despite the negative economic outlook of yesterday, the consumer confidence is in line with the forecasts of the European Commission of 0.7% expansion in Germany in 2012, contrary to a negative in all of the forecasts for the economy of the euro area.
Despite the German confidence stable, EURUSD has fallen down of 1.2517 today, back to the previous level before the report. Since yesterday afternoon, the couple did not moved much following a fall early in the morning to new lows of 2 years.DailyFX provides news forex and technical analysis on trends affecting the world market currencies.
Learn forex trading with a free account of practice and exchange of graphics of FXCM.
25 May 2012 06: 37 GMT
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