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German consumer confidence down over international concerns

Posted September 28

— A survey shows German consumers are growing slightly less confident amid increasing concern over international problems, even though they still see the country's economy as being on the upswing.

The forward-looking GfK consumer climate index released Thursday showed a drop to 10.9 points in September, down from 10.8 points for October and its first decrease after five consecutive rises.

GfK says despite "the excellent domestic situation," Germans are growing more concerned over North Korea's nuclear program, Brexit negotiations, crises in Syria, Iraq and elsewhere, and the fact that "how the U.S. government will position their trade policy in the future remains unclear."

With German unemployment continuing to drop and the economy growing, the survey of 2,000 consumers showed economic expectations increased but income expectations and propensity to buy both dropped.

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