Gfk’s forward-looking gauge of consumer confidence, based on a survey of some 2,000 people, fell to 2.4 for April from March’s 2.5 read, which was revised down from an initially reported 2.6. The 2.4 read is marginally weaker than the median forecast of 2.5.
Given the recent run of weak economic data and growth forecast downgrades it’s hardly any wonder the poor German consumer is feeling a little downbeat.
EUR/USD has ticked higher in early Europe, presently around 1.3595.
