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[NUREMBERG] German private household spending will rise by 1.5 per cent in real terms this year, GfK market research group said on Wednesday.
Retailers, however, will profit from this increase only to a certain extent because German consumers will spend their money mostly on real estate, renovation work and travel, GfK head Matthias Hartmann said in Nuremberg.
German consumer sentiment surged to its highest level in more than 13 years heading into February, a GfK survey showed last week, as lower oil prices meant shoppers in Europe's largest economy had more spare cash.