In Germany, one of the largest industrial producers in Europe and the world, the monthly consumer confidence index was announced as of 09:00. According to the latest data, consumer confidence in the country, which has continued to rise since October 2022, fell for the first time.
The index, which remained at -24.4 points last month, acted contrary to expectations today. While market participants expect confidence to recover by -23.0 points, the official data came out as -25.4 points.
Consumer confidence, which was positive before the pandemic, has not returned to its previous level since the collapse in March 2020. The interest rate expectation due to rising inflation caused confidence to drop to -42.8 points in October 2022.
Inflation continues to fall in the euro area. However, the ECB is expected to continue its tight monetary policy for at least one more year.
