German consumer confidence holds steady on economic hopes

germanyBerlin- German consumer confidence has held steady, helped along by hopes of an improving economic outlook and rising income expectations, according to a survey released Monday. The Nuremberg-based GfK marketing group said its forward-looking consumer confidence index came in at 2.5 points in May compared to an upwardly revised 2.5 in April.

"The consumer climate remains robust overall, despite an economic environment which is generally recessive," GfK said in a statement. "However, the index remains at a very low level."(dpa)