Business News Asia
The German market research institute GfK reported that the forecast for German consumer climate fell by 10.8 points to -26.5 points in May, its lowest level ever.
The Climate Prospects Index was weighed down by concerns about the impact of the Russia-Ukraine war and inflation, which has reached its highest level in 40 years.
GfK uses the data from three sub-indices for the current month to produce a sentiment forecast for the coming month. The sub-indices are the economic forecast, the income forecast and the purchasing trend.