German consumer confidence is set to slide next month amid concerns about the outlook for Europe's biggest economy, according to a survey released on Thursday.
Nuremberg-based market research institute GfK said its forward-looking consumer confidence indicator will slip to 10.6 points in August from a reading of 10.7 in July.
However, the GfK gauge measuring consumers' so-called propensity to buy and their income expectations were essentially unchanged in the survey of about 2,000 households.
"Germans are still relying on the excellent general conditions that we still enjoy in Germany," said GfK researcher Rolf Buerkl.
The GfK is expecting real private consumer spending in Germany to grow by about 1.5 per cent this year resulting in household spending once again emerging as a key pillar of the nation's economic growth.
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