German consumer confidence declines in July, GfK consumer climate index drops to -21.8.
German consumer confidence declines in July, with the GfK consumer climate index dropping unexpectedly to -21.8, from -21.0 in June. The propensity to save increased 3.2 points, while the propensity to buy decreased slightly. Income and economic expectations also decreased. The decline coincides with rising inflation, which increased to 2.4% in May, moving further from the European Central Bank's target of around 2%.
June 26, 2024
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