Bankinter: Consumer confidence worsens to -21.8 in July versus -19.5 expected against -21.0 previous (revised from -20.9).
Analysis: The index that measures Consumer Confidence interrupts the improvement trend of the previous four months in an environment marked by the rebound in Inflation (+2.4% in May versus +2.2% before). This is not a good sign, it confirms the weakness of the German economy, something that is also seen in the latest activity indicators – IFO indicator in the contraction zone and June Composite PMI at 50.6 points versus 52.4 before – with the ZEW Confidence index down.
