German consumer confidence clouds over in December

28th November, 2018 11:52:07 printer

FRANKFURT AM MAIN: The mood among German consumers is tipped to pall slightly in December, suffering a hangover from weaker third-quarter growth, a forward-looking survey predicted Wednesday.

Market research firm GfK's monthly barometer shed 0.2 points compared with November to reach an indexed 10.4, reports AFP.

"A phase of economic weakness has also left traces on the consumer mood in November," the pollsters commented on the survey of 2,000 people.

European powerhouse Germany suffered its first quarterly growth slowdown since 2015 between July and September, official data showed this month, as gross domestic product (GDP) shrank by 0.2 percent.

Growth troubles, in part caused by massive problems adapting to new car emissions tests that have weighed on Germany's biggest industry, have piled on top of a familiar litany of challenges for Berlin.

Trade rows between the US, China and Europe remain far from resolved, while the risk of a no-deal Brexit has not been dispelled despite EU leaders giving a draft withdrawal agreement their seal of approval at the weekend.

Germans' expectations for national economic performance and their own incomes have sagged -- the second measure also weighed down by higher inflation in the 19-nation eurozone.