German consumer confidence rises on wage hopes

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German shoppers
Image caption,
The Ifo business confidence index also rose in February

German consumer confidence is rising as workers expect wages to increase in 2011, according to a survey by market research group GfK.

GfK said its forward-looking index for March had risen to 6.0 from a revised 5.8 in February.

The group also said that falling unemployment was giving consumers a greater feeling of security.

The data comes after a survey on Monday showed an increase in business confidence.

The Ifo Institute index rose to 111.2 points in February, from 110.3 points in January, its ninth consecutive month-on-month rise.

"Domestic economic activity and especially consumption play an increasingly important role and have become a second, stable pillar for the economy as a whole," GfK said in a statement.

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