FRANKFURT (MktNews) - West German consumer confidence remained unchanged for the second month in a row in January at the "disappointing" level first reached in November, according to the Icon economic research institute. The Icon index remained at 87 in January - the lowest level since January 1998, down 18 points from January 2001. It is unclear as yet whether the unchanged readings in December and January indicate that consumer sentiment has bottomed out or not. January sentiment was adversely affected by the euro changeover, according to Icon, and it is unclear whether this impact will wane in coming months. Prior to December, the Icon index had declined for six of the previous seven months from the recent high of 105 set last April. In January this year, many consumer felt that the introduction of euro notes and coins had resulted in higher prices, Icon said. This caused consumers' propensity to buy long-life durable goods to decline significantly in January, Icon said. Also, consumers' expectations on their personal income situation in the next twelve months as well as their assessment current conditions of the German economy fell in January, Icon said.. Meanwhile, consumers' willingness to save rose in January, a bad sign for the German retail sales sector, Icon added. Icon's index is based on a survey of 2,000 consumers in west Germany. An index level of 100 represents a balance between optimistic and pessimistic responses, with pessimists outnumbering optimists when the index falls below 100.