Source: ForexYard
Released this morning was a report on the state of the German economy according to consumers. The survey, conducted by GfK, revealed a surprising uptick in consumer optimism, beating forecasts for a minor decline of 0.1.
The indicator tends to have less impact than other reports due to its distance from economic valuation. Consumers have one part of the picture, but in the case of Germany it doesn’t seem to have as much of an impact as the ZEW or Ifo readings, which get released prior to the GfK report.
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