Mideast war hits German consumer confidence: survey

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German consumer sentiment fell heading into April due to the Middle East war, a survey shows, adding to the woes facing Europe’s top economy, AFP reports.

The forward-looking indicator, published by pollsters GfK and the Nuremberg Institute for Market Decisions (NIM), fell 3.2 points to minus 28.

German consumers’ current purchasing power as well as their tendency to save changed only slightly in the survey, but expectations of their future incomes plunged 12.6 points as pessimism mounts.

The reading in the regular poll of about 2,000 people “indicates a noticeable deterioration in consumer confidence,” Rolf Buerkl, head of consumer climate at NIM said.

“Consumers are expecting inflation to take off again and the economic recovery to be held back as a result of higher energy prices.”

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