Germany's consumer confidence is set to strengthen in February on strong economic and income expectations, survey data from market research group GfK showed Thursday.
The forward-looking consumer sentiment index rose 0.2 points to 11.0 in February. The score was forecast to remain unchanged at 10.8.
With the second rise in a row, the consumer climate confirms the good start to the year and lays an excellent foundation for a successful consumer year in 2018, the GfK said.
Consumers' economic expectations climbed for the third straight month primarily driven by excellent job market situation. The score rose 9.2 points to 54.4 in January, the highest since February 2011.
The income expectations index gained 2.5 points to 56.8 in January. The strong performance of the economy is the linchpin of the current income optimism, GfK noted.
After two slight declines, the propensity to buy rose 3.3 points to 60.4 in January. The indicator climbed to a level it last exceeded in May 2015.