News Summary: German consumer confidence rises

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CONFIDENCE UP: Lower unemployment and rising wages are buoying German consumer confidence despite uncertainty in the 17-country eurozone, according to a survey by the GfK institute.

UNDERLYING WORRIES: The latest consumer survey shows an uptick in confidence, but underlying numbers indicate that Germans are concerned about the future, as seen in a drop in economic expectations. A measure of German business optimism released last week showed a greater drop than expected for June.

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