New figures published today report that German consumer sentiment has surged - it is at its highest point in 13 years. Lower oil prices and weakening euro values have acted like a mini-stimulus package and boosted confidence.

This is the second month in a row that the consumer outlook has surpassed expectations. Market research group GfK tracks consumer confidence in Germany - the index reached 9.3 this month. Reuters reports that its panel of experts had expected it to reach 9.1.

A statement from GfK said: "German consumers have evidently also been affected by the major collapse in energy prices over the past few weeks. Reduced costs of fuel and heating oil are boosting disposable income, giving consumers greater freedom for other spending or purchases."

The survey also found that Germans believe that the economy's performance will continue to improve: "The consumer climate is maintaining its clear upward trend. The outlook for the consumer economy is therefore continuing to brighten."

This is good news for Irish exporters who sell to the German market.