Consumer sentiment in Germany deteriorated in May

The indicator of consumer sentiment in Germany declined in May to 10.7 points from 10.8 points a month earlier, a poll of about 2 thousand Germans conducted by the Nuremberg Institute of GfK showed. Consumer sentiment declines for two consecutive months and dropped to the lowest level in 2018. According to the researcher at GfK, Rolf Berkla, the mood of the population was negatively affected by the geopolitical situation, as well as US sanctions, which will have a long-term impact on Germany as an export country. He noted that the US withdrawal from the international agreement with Iran from 2015 did not have a particularly negative impact on the mood of consumers.

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