Traditionally frugal Germans fuel economy with spending spree
The surge in spending is likely to outlast weak oil prices due to low joblessness and expectations of bigger paychecks, said Christian Odendahl, chief economist at London's Centre for European Reform.
"Without a negative external shock, this optimism is likely to feed on itself without more restrictive monetary or fiscal policy stopping it. The result would be stronger wage growth, even more optimism, and even more consumption."