Germany's consumers became increasingly aware of a clear economic upswing according to the findings of the GfK consumer climate survey for April.
After a weak phase in the first quarter of 2007 an improved employment market and rising wage and salary levels has led to a generally positive economic outlook and increasing income expectations.
The assessment of the current business situation in Germany improved considerably owing to the strong growth of industry production with Ifo Business Climate Index for German industry and trade rising again in April. Surveyed firms assessed both the current situation as well as the outlook for the coming six months more favourably than in March.
In both retailing and wholesaling the business climate also brightened considerably. Preliminary figures from the German Federal Statistics Office showed that of all the retail categories, apparel, textiles and footwear were the best performers in April.
Germany's economic mood indicator is also up in all social groups. Results from Hugo Boss for Q1 2007 illustrate the healthy luxury market. Q1 sales rose solidly year-on-year helped by womenswear, where sales surged. As well as strength across segment, Hugo Boss also saw strength across the world markets.
Australian Wool Innovation Limited
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