A key survey shows Germans preparing to tighten their belts rather than boost private consumption, the sector which provides half of the GDP in Europe's biggest economy. View on euronews

Consumer morale in Germany has fallen to a seven-month low with fears about a recession and unemployment weighed heavily on income expectations, according to a closely watched survey by the GfK Group and the Nuremberg Institute for Market Decisions (NIM).

German consumer confidence sank this month to its lowest level since May as income expectations slumped, reflecting increased concerns over job losses and fears of an impending recession.