Germany February GfK consumer sentiment -29.7 vs -24.5 expected

<ul><li>Prior -25.1; revised to -25.4</li></ul><p>As we get into the new year, the dark clouds continue to circle around German economy. And that is dashing any hopes of a recovery in the consumption sector especially. The unexpected dip here makes this the lowest reading since March last year. And it reaffirms a softer mood surrounding the German consumer, as high inflation and tighter financial conditions continue to weigh. GfK notes that:</p><p>"If there were any hopes of a sustained recovery in sentiment, these were dashed in January. The consumer climate suffered a severe setback at the beginning of the year."</p>

This article was written by Justin Low at www.forexlive.com.