Inflation fears take shine off German consumer morale

FRANKFURT AM MAIN

Consumers in Germany are more confident about the economy and keen to spend money, but concerned about the impact of inflation on their incomes, a closely-watched survey showed Thursday.

Market research firm GfK’s forward-looking consumer confidence reading for April slipped to 9.8 points after 10.0 this month, slightly short of analysts’ expectations, it said in a statement. “Increased inflation in Germany and stronger fears about purchasing power apparently prevented a broader-based recovery,” GfK commented. Looking in more detail, the pollsters found that people expected the current strength of Europe’s largest economy to continue.