Frankfurt, July 18 (BridgeNews) - The German consumer confidence index dropped another 3 points in June to level of 93, as consumers viewed the economic outlook with more pessimism, German daily Handelsblatt said Wednesday citing Nuremberg-based ICON research group. Despite a more pessimistic outlook for the economy and labor market, consumers remained more optimistic about their personal income prospects.
Propensity to save has decreased in June, without showing any effect on the readiness to buy durable goods yet.
In the rest of Europe, only the U.K. showed an improvement in consumer confidence, while strong declines were seen in the Netherlands, Sweden, Denmark and Spain. Ireland remained on the top on the list in terms of consumer confidence, followed by Belgium and Finland.
An ICON index level of 100 represents a sentiment balance between optimists and pessimists.