Bankinter | German consumer confidence fell to -28.0 points in April, compared with an expected -27.3 and a previous reading of -24.8 (revised from -24.7).
Bankinter analysis team’s view: Concerns over the conflict in the Middle East (and its impact on prices), coupled with the loss of momentum in the German economy and weak GDP growth, are taking their toll on consumer confidence. Current levels represent the lowest confidence rating since March 2024.
The figures are in line with the declines we have also seen this week in the German PMIs and the IFO respectively (although it is true that in these cases the falls were less pronounced). In any case, we believe it is likely that sentiment indicators will continue to show weakness for as long as the armed conflict persists.
