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German subprime fears rising
Beijing News.Net
Wednesday 26th September, 2007
Subprime fears and rising food prices have sapped the confidence of Germany’s economy.
The barometer of German household confidence has dropped twice in as many months.
An inclination to save has also risen noticeably in economic surveys.
Other factors in the German lack of consumer confidence were debates about the euro's current strength against the dollar and its potential effect on the German economy; soaring oil prices and the likely effects on heating bills; and the chances of an overall economic slump in the United States, a major market for German exporters.
The survey is based on a monthly poll of around 2,000 people, with questions focused on expectations for the month to come concerning the economy, income and disposition to make purchases.
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