A majority of people living in Germany go out less to restaurants to eat as a result of the increase in prices, according to a poll by the Nuremberg-based.
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A key German market research index has predicted a slight dip in consumer confidence for September. The figure has been hovering in unusually low territory for months now.
European stocks advanced on Wednesday after top U.S. regulators expressed confidence that banks were solvent, blaming the recent collapse of Silicon Valley Bank on mismanagement, rather than systemic risks.
Despite the rising recession fears, confidence among German consumers strengthened for the sixth consecutive month on improving income expectations, a closely-watched survey by the market research group GfK revealed Wednesday.