index Germany’s Gfk consumer confidence it has moderated nine tenths in its reading for November. The data is located in -41.9 compared to -42.8 points in October (revised downward from -42.5). The result has met market expectations.
After a prolonged phase of declines, some of them significant, sentiment calmed down a bit again in October. Consequently, consumer sentiment is ending its slide, at least for now, reports Gfk.
“It is certainly Too early to talk about a trend change at this point. The situation remains very tense for consumer sentiment“, Explain Rolf Burkl, consumer expert at GfK. “Inflation has recently risen to ten percent in Germany, and concerns about the security of energy supply continue to rise. It therefore remains to be seen whether the current stabilization will last or whether, taking into account the coming winter, there is reason to fear a further worsening of the situation”.
Source: Fx Street
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