The German consumer confidence index for March hit a seven-year high, reinforcing the belief that this year domestic demand will drive the growth of Europe's leading economy.
Research firm Gfk on Wednesday said its leading German consumer confidence index, based on a survey of about 2.000 people, rose to 8,5 for March from 8,3 (a figure revised upwards). ) of the previous month. This is the highest reading since January 2007. A reading above zero indicates year-on-year growth in private consumption.
