GfK Consumer Sentiment Crashes to -33.3, Capping ZEW-Ifo Confidence Collapse
Germany's GfK consumer sentiment plunged to -33.3 in May (vs -29.3 expected; prior -28.1), the lowest since February 2023, sealing a brutal week of misses amid Iran war fears, inflation, and energy shocks. It followed ZEW economic sentiment tanking to -17.2 on April 21 (vs -5.0 exp; weakest since Dec 2022) and Ifo business climate falling to 84.4 on April 24 (lowest since May 2020), with sharp drops in current conditions (-73.7), expectations (83.3), and income outlook (-24.4). This triple slump signals broad economic deterioration, driving downside pressure on Germany 40 equities, the euro, and boosting ECB rate cut odds.