German consumer confidence index perks up

Nov 27, 2013, 5:40 AM EST

BERLIN (AP) — A survey finds that German consumer confidence is on the rise amid expectations that Europe's biggest economy will pick up speed and people's income will increase.

The GfK research institute said Wednesday that its forward-looking confidence indicator rose to 7.4 points for December after stalling at 7.1 in November.

It says Germans' economic expectations picked up for the third month in a row, hitting their highest level in more than two years. The economy grew by 0.3 percent in the third quarter, slower than the previous quarter's 0.7 percent but better than the euro area's overall performance.

GfK says expectations of economic growth also prompted a jump in Germans' income outlook, and their willingness to buy edged up to a seven-year high.