• Prior -26.5; revised to -26.6

The slide in German consumer confidence comes to a halt but that comes after the record low posted in May. As such, sentiment is still rather poor as inflation and geopolitical tensions continue to weigh. GfK notes that:

"Although this means that the consumer climate has improved slightly, consumer sentiment is still at an all-time low. Despite further easing of pandemic-related restrictions, the war in Ukraine and especially high inflation are weighing heavily on consumer sentiment."