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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.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


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