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Retail

German Consumer Sentiment Remains Unchanged Heading Into July

German consumer sentiment remained unchanged heading into July, the market research group GfK said on Thursday, as fears that a trade conflict between Europe and the United States cloud the outlook for Europe's largest economy.

Private consumption has become the main source of economic expansion in Germany in recent years, supported by record-high employment, increased job security, above-inflation pay hikes and low borrowing costs.

Nuremberg-based GfK said its consumer sentiment index, which is based on a survey of around 2,000 Germans, held at 10.7 points after declining the previous two months. Analysts polled by Reuters had forecast the index would slip to 10.6.

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