Germany July GfK consumer confidence -27.4 vs -27.6 expected

  • Prior -26.0; revised to -26.2

German consumer sentiment plunges to a new record low as surging inflation pressures continue to take a toll on households. GfK notes that:

„The ongoing war in Ukraine and disruptions in supply chains are causing energy and food prices in particular to skyrocket, resulting in a gloomier consumer climate than ever before.”

Michael Cooper

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