Consumer confidence has decreased in Germany

German consumers are more pessimistic than expected, according to a survey published by GfK on Thursday.

The Nuremberg-based Market Research Institute’s November consumer sentiment index decreased to 10.7 points from October’s 10.8 points. The September indicator was 10.9 points, the highest since October 2001.

The indicator has deteriorated for the second consecutive month after having improved for five consecutive months. (MTI)