4/27, 8:01 AM (Source: TeleTrader)
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Consumer confidence in Germany to worsen in May - GfK

Consumer confidence in Germany fell in April and the May forecast declined 10.8 points on a monthly basis to come in at negative 26.5 points, market research institute GfK said in a report released on Wednesday. The May figure represents an all-time low.

The economic expectations indicator fell by 7.5 points month on month to negative 16.4 points, while the income expectations reading dropped 9.2 points, landing at negative 31.3. The propensity to buy indicator decreased by 8.5 points from the previous month to negative 10.6.

Events in Ukraine and "rates of high inflation have dealt a severe blow to consumer sentiment," meaning "that hopes of a recovery from the easing of pandemic-related restrictions have finally been dashed," GfK Consumer Expert Rolf Buerkl stated in the report.

Baha Breaking News (BBN) / MS