German Consumer Spending Likely To Be Constrained By Subdued Economic Outlook

The German retailers association, the HDE, has said that it expects the biggest increase in Christmas seasonal demand for five years, as the country's strong economic recovery continues to filter through to domestic demand. Economic growth has surprised on the upside throughout 2010, and this has filtered through to consumer spending, with retail sales on course to expand by 1.5% during the year. The HDE's relative optimism is in line with the wider business community. However, BMI continues to believe that Germany's impressive economic performance is unlikely to be sustained in 2011, as economic problems in the eurozone and

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