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German economy receives boost from local spending spree

Low interest rate on savings, falling unemployment and oil prices driving consumption in 2015

Berlin

SALES of new kitchens are up more than 10 per cent already this year at German kitchen maker Haecker. For those who would rather someone else did the cooking, roasted monkfish and turbot with truffles are flopping onto plates at Berlin's Michelin-starred restaurant Fischers Fritz.

A blizzard of corporate good news shows that famously frugal Germans are now snapping up football shirts from Adidas and electronics from retail chain Media-Saturn.

With low interest rates on savings, unemployment falling, oil prices sliding and pay rises outpacing inflation, economists say that German consumers have finally woken up and are likely to keep on spending through 2015.

Markus Sander, marketing head at...

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