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Optimism takes hold in Germany as wages rise and inflation stays low

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Optimism takes hold in Germany as wages rise and inflation stays low

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The morale of German consumers is at its highest since 2001 heading into April according to a new survey.

GfK Market Research’s figures beat forecasts for the results, obtained from a sample of 2000 consumers.

Consumer confidence is based in part on expectations that wages will rise, and economists say that means consumer spending will continue to underpin economic growth, also benefiting from record low unemployment and low inflation.

The survey noted the only appreciable risk to the rosy picture would be a Greek exit from the eurozone, which would be a “severe setback” for the economy.