German GfK Consumer Confidence to Gain in August on Rising Wages

German consumer confidence will climb to a five-month high in August 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 for a second straight month to 5.9 from 5.8 in July. That would be the highest since March. Economists predicted an unchanged reading, according to the median of 21 estimates in a Bloomberg News survey.