German Consumer Confidence Lowered after Brexit Vote
German
Berlin - QNA
German consumer conference is set to edge lower next month as households in Europe's biggest economy fret about the economic fallout from Britain's plans to exit the European Union.
The Nuremberg-based GfK market research group said the reading for its forward-looking survey for August will slip to 10 points from 10.1 in July after Britain voted last month to leave the EU.
Analysts had expected the indicator would dip to 9.9 next month.
"The Brexit vote has weighed on the consumer climate," said GfK analyst Rolf Buerkl.
Leading the indicator lower next month was a fall in both economic and income expectations, the GfK said.
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