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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 GFK CONSUMER SENTIMENT NOV -41.9 (FCST -42.3); OCT -42.8r
- Germany's GfK consumer confidence expectations for November increased by 0.9 points, largely in line with forecasts and following an uptick in French sentiment yesterday.
- Despite holding near October's deeply pessimistic record low, this is the first uptick since June. (The series average is around 4.0).
- The combination of energy shortage concerns, a looming recession and relentless inflation has driven down consumers' purchasing power and demand appetite.
- Despite this, income expectations and propensity to buy increased, a cautious indication that confidence appears to have bottomed out in October. Next month's index will give a clearer indication of whether energy price caps could see demand improve.
- Friday's data releases will likely see inflation remaining elevated at the multi-decade high of 10.9% (HICP) and the economy edging into contractive territory in Q3. GfK forecasts GDP will contract by -0.5% in 2023.
Source: GfK
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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