German consumer confidence is steady, despite the worries over a possible Greek exit from the eurozone, data released on Thursday by German pollster GfK showed.
Nuremberg-based GfK marginally raised its index for May to 10.1 from 10.0 this month, the seventh straight rise in the forward-looking index and the highest since October 2001. But it noted the rate of monthly rises had tailed off sharply, according to German press agency (dpa).
"Evidently consumers are now starting to be affected by the constant back and forth on Greece's future in Europe," said GfK analyst Rolf Buerkl, explaining the small size of the overall gain.
"Income expectations continue to rise, while economic expectations and willingness to buy declined slightly." Germans believe their incomes are safe because unemployment is low, inflation is at rock bottom and loans are cheap, but Buerkl said a recent rise in motor fuel prices at filling stations had tipped off consumers that inflation may soon pick up.