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German consumer confidence strong despite Brexit concerns

BERLIN – A closely watched survey shows German consumers remain confident, but underlying figures indicate rising financial concerns amid negotiations over Greek debt and the possibility of a British exit from the European Union.

The GfK research group said Wednesday its forward-looking consumer climate index rose to 9.8 points for June from 9.7 in May, driven by increases in consumers’ expectations about the general economic situation and their own propensity to buy.

At the same time, the survey of 2,000 consumers on behalf of the European Commission showed increasing concerns about their own financial situation over the next year.

GfK says “despite the excellent conditions in place for domestic demand, in terms of the labour market, income and inflation, for example, there are a number of uncertainties that should not be underestimated.”