The German people’s sentiment continues to suffer from soaring energy and food prices, the shadow of war in Ukraine and the morose sentiment thereto. The GfK Consumer Climate Indicator for Germany edged up to -26 heading into June of 2022 from a record low of -26.6 in May which was expected in market forecasts. Germany’s once stoic V-shaped recovery has long been put to bed and moves by the ECB to raise rates will further cloud the mood. Despite the … Continue reading “Germany Consumer Sentiment Near All Time Low with Soaring Prices and War in Ukraine”
Inflation continues to bubble along in Australia to the highest since Q3 2008. Australian consumer prices rose 0.8% in the second quarter. Automotive fuel prices climbed 6.5% and Electricity prices jumped 3.3%. The ABS expects the sharp jump in annual inflation to be temporary
Australia’s consumer confidence dropped 3.5% last week, as Sydney, Victoria and South Australia remained under a lockdown says ANZ Roy Morgan. Sentiment around current economic conditions dropped 6%.