German consumer confidence has dropped to its lowest level in two-and-a-half years, dragged down by spiraling energy costs.
The GfK consumer climate forecast index has dropped to its lowest level since December 2005. The report comes a day after a separate measure of business confidence in Europe's biggest economy fell more than had been expected, and helped fuel speculation that the European Central Bank will raise interest rates soon. Meanwhile surveys show that consumer confidence across the European Union has taken a sharp downturn.
(Deutsche Ebadi calls on media to foster peace ...
Deutsche Bank posts first qtly. loss in five years ... Welle)
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