German consumer climate holds steady but researchers warn Ukraine crisis may soon have impact

A closely-watched survey shows German consumers remain positive about the economy, but researchers are warning the crisis in Ukraine may soon start weigh on sentiment.

GfK says Wednesday that its forward-looking indicator remained steady at 8.5 points for April, unchanged on the revised March value. GfK says consumers' economic expectations and willingness to buy both rose, helping offset a slight decline in income expectations.

But GfK says the 2,000 consumer interviews upon which the survey was based were conducted before Russia's annexation of Crimea following a hastily-arranged referendum in the peninsula over joining Russia.

GfK says it cannot rule out the possibility that recent developments will unsettle consumers, particularly if the crisis spreads to other parts of Ukraine and stricter sanctions are imposed.