German consumer confidence is set to surge to an eight-year high next month as households are optimistic about the prospects for Europe's biggest economy, dpa reported. Confidence among consumers will rise to a stronger-than-forecast 9 points in January from 8.7 points in December, the Nuremberg-based GfK research group said, releasing its forward-looking indicator. Analysts surveyed by dpa-AFX had expected the GfK indicator would edge up to 8.8 next month. "Evidently consumers assume that the phase of economic weakness in Germany will be temporary and are expecting their domestic economy to return to growth over the coming months," the GfK said. The January forecast represents the indicator's highest reading since December 2006. -- SPA 11:13 LOCAL TIME 08:13 GMT تغريد
