Frankfurt - Consumer confidence in Germany is at its highest since late 2001, as rising optimism about the economy and income expectations persuade German shoppers to open their wallets, a poll found on Thursday.
"The escalation of the situation in east Ukraine, the ongoing tensions between the West and Russia and events in Greece are not leaving much of an impression on German consumers, who are increasingly optimistic," market research company GfK said in a statement.
"The drop in energy prices is boosting the purchasing power of private households and opening up room for further spending. As a result, income expectations and the propensity to buy are increasing as well," GfK said.