Economic Buzz: Germany Consumer Confidence Set To Weaken In May

German consumer climate index dropped 0.1 point to 10.8 in May due to rising insecure state of geopolitics, survey data from the market research group GfK showed Thursday. The survey revealed that the Wests confrontation with Russia in the Syria conflict is escalating and is clearly causing increasing anxiety among consumers in terms of Germanys future economic prospects. Among components of the index, economic expectations and income expectations weakened in April. In contrast, propensity to buy maintained its already very high level. The economic expectation indicator slid 8.5 points to 37.4 in April.