German GfK Consumer Confidence to Gain in July on Wages

German consumer confidence will gain for the first time in five months in July as rising wages outweigh growing concerns that the sovereign debt crisis is damping economic growth, GfK SE said.

The Nuremberg-based market research company today forecast that its consumer-sentiment index, based on a survey of about 2,000 people, will increase to 5.8 next month from 5.7 in June. Economists predicted a decline to 5.6, according to the median of 22 estimates in a Bloomberg News survey.