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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
GERMAN DATA
MNI (London)
GERMANY MAY GFK CONSUMER CONFIDENCE -26.5; APR -15.7r
- German consumer sentiment deteriorated by 10.8 points to a historic all-time low of -26.5 in the May outlook, beating the previous Spring 2020 low at the pandemic onset.
- Economic and income expectations as well as propensity to buy saw stark declines. Both the Ukraine war and soaring inflation of 7.3% y/y in March have outweighed optimism from easing pandemic restrictions.
- Income expectations dropped to a 20-year low, with German consumers seeing the danger of recession as "high" as the economy continues to slow amidst soaring energy prices, ongoing supply chain issues and material shortages.
- Just under 2% economic growth is expected for 2022.
- German consumer confidence has been substantially harder hit than the eurozone aggregate, where April saw a slight uptick (albeit starkly pessimistic). The notable impact of the Ukraine war on Germany's energy-intensive manufacturing industry's growth outlook underpins this divergence.
- The April reading was revised down by 0.2 points.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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