Survey: German consumers positive despite Ukraine crisis; mood might shift if gas prices rise

BERLIN – A closely-watched survey shows German consumers remain optimistic despite the crisis in Ukraine, with increasing economic expectations and an improved willingness to make purchases.

The forward-looking GfK consumer climate index remained at 8.5 for June, the same level as in April and May.

GfK continues to warn that unrest in Ukraine could threaten the positive mood, especially if it starts to drive up energy prices, but said Monday there’s no indication it has become a damper yet.

The survey, based on 2,000 consumer interviews, showed economic expectations rising to 38.5 in May from 32.1 in April, while the willingness to buy rose to 49.5 from 48.6. Income expectations pulled down the overall indicator, however, dropping to 47.8 from 52.3.

The monthly report is conducted on behalf of the European Commission.