German consumers' confidence rose for the fifth month in a row, reaching the highest level since October 2001, market research group GfK reported on Tuesday.

Following a value of 10.8 points in August, GfK forecasts an increase of 10.9 points in September, according to GfK's monthly report.

The experts had expected the consumer climate in September to remain at the same level as in August.

The report, made up of three parts, showed that the indicator for income expectation hit a new record since German reunification and that the indicator for propensity to buy also rose significantly by 3.3 points to 58.1 points.

However, the indicator for the economic expectations suffered a big setback by losing 14.2 points to 30.4 points.

Rolf Buerkl, an analyst for GfK, warned in the report that the very slow Brexit negotiations, the less transparent U.S. policies, and a worsening of the situation in various crisis regions, could harm consumer climate in the future.

GfK Consumer Climate survey has been conducted since 1980, whose findings are based on around 2,000 consumer interviews conducted each month on behalf of the European Commission.