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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 JUN GFK CONSUMER CONF -24.2 (FCST -24.0); MAY -25.8r
- German consumer confidence strengthened by a further 1.6 points to -24.2 in GfK's forward-looking June indicator. This was only marginally softer than anticipated and represents an eighth month of improvements.
- Cooling German CPI and higher wage expectations underpinned the uptick in income expectations, yet the propensity to buy and economic expectations were weaker in the June index. This implies that German consumers are reluctant to spend due to prevailing uncertainty.
- Despite recent improvements, the index remains below Spring 2020 lockdown levels and in deeply pessimistic territory. As such, GfK continues to forecast a negligible contribution from private consumption to German GDP in 2023.
- This is in line with the European Commission's Spring Forecasts, which project that the German economy will come close to stalling at +0.2% in 2023, rebounding in 2024 to +1.4% when consumption and investment recover.
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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