GfK expects German consumer confidence to fall in July

The German GfK Institute reported that consumer confidence in Germany is expected to fall to a record low in July. The war in Ukraine and stagnation in supply chains have led to higher prices for energy and food.

According to GfK, the consumer confidence index in Germany fell to -27.4 in July from -26.2 in the previous month.

GfK said that the ongoing war in Ukraine and the disruption of the supply chain have led to rising energy and food prices. As a result, the atomic sphere among consumers is gloomier than before.

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