- Prior -15.5; revised to -15.7
German consumer morale falls to a historic low as surging costs for households weigh heavily on the pandemic recovery. GfK notes that:
"The war in Ukraine and rates of high inflation have dealt a severe blow to consumer sentiment. This means that hopes of a recovery from the easing of pandemic-related restrictions have finally been dashed. There will only be a sustainable trend shift in consumer sentiment if there are successful peace negotiations on the war in Ukraine."
Some details from the survey:
