News Summary: German consumer confidence rises
(AP) - CONFIDENCE UP: Lower unemployment and rising wages are buoying German consumer confidence despite uncertainty in the 17-country eurozone, according to a survey by the GfK institute.
UNDERLYING WORRIES: The latest consumer survey shows an uptick in confidence, but underlying numbers indicate that Germans are concerned about the future, as seen in a drop in economic expectations. A measure of German business optimism released last week showed a greater drop than expected for June.
GREATER GROWTH: Germany's economy grew by 0.5 percent in the first three months of the year, but the eurozone on the whole is lagging and is expected to shrink 0.3 percent this year.
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