German Consumer Spending Edges Up In H1

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Germany's final consumption expenditure of households rose 0.1% year-on-year in the first half of 2009, boosted by the cash-for-clunkers programme, the Federal Statistical Office said Thursday.

Without the purchases of passenger cars, household final consumption expenditure would have dropped 1%, the statistical office said.

The German government led by Chancellor Angela Merkel approved to give EUR 2500 incentive to motorists who scrap their old cars which are older than nine years.

Germany's final consumption expenditure of households rose 0.1% year-on-year in the first half of 2009, boosted by the cash-for-clunkers programme, the Federal Statistical Office said Thursday. (Market News Provided by RTTNews)