Consumer confidence is declining in Germany

The GfK company conducted a sentiment survey among german consumers. Its results showed a decline in consumer confidence in the economy in April. The corresponding index fell by 7 points and amounted to minus 15.5 points. Analysts predicted a decline in this indicator by 5.5 points to minus 14 points. Other indices also showed negative dynamics. So, for example, german consumers’ assessment of the probability of a wage increase fell to minus 22.1 points from minus 3.9% a month earlier. The assessment of readiness to purchase expensive goods decreased by 0.7 points to minus 2.1 points. The current economic expectations of German consumers also deteriorated sharply. The index evaluating them fell 33 points to minus 8.9 points. GfK spokesman Rolf Buerkl said that the Russian military operation in Ukraine stopped the process of restoring consumer confidence in Germany. Energy prices began to rise. The mood of consumers has deteriorated sharply.

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Arseny Kudrin

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