BERLIN – A closely watched survey shows German consumer confidence has fallen further amid concerns over conflicts in Ukraine and elsewhere and economic weakness across Europe.
The GfK institute said Friday its forward-looking consumer climate index for October dropped to 8.3 from 8.6 in September. A raft of measures that make up the index also fell, including consumers' willingness to buy.
Following a 0.2 percent contraction in Germany's second quarter, GfK says consumers believe "the ongoing tense geopolitical situation and economic weakness in a number of eurozone countries are likely to have a greater impact on the German economy in future."
The second-quarter contraction in Germany was largely responsible for the flat performance in the eurozone.
The poll of 2,000 consumers is conducted on behalf of the European Union's executive European Commission.