German consumers remain optimistic but survey shows signs of worry

Economic Indicators Associated Press

A closely-watched survey shows German consumers remain optimistic but may be beginning to show signs of worry about the potential impact of Greece's fiscal woes.

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The GfK research group said Thursday its forward-looking consumer climate index rose to 10.1 points for May, up from 10 points in April, driven largely by an increase in consumers' income expectations, which are at their highest level since German reunification.

The survey of 2,000 consumers showed a slight drop, however, both in their willingness to buy and in economic expectations.

GfK says "it is possible that consumers are beginning to respond to the continued uncertainty on the future of Greece, especially a potential Grexit" — withdrawal from the eurozone.

The group notes, however, that its overall index figure "remains at a very high level."