German consumer morale drops as recession fears spread, GfK says

The GfK consumer sentiment indicator, based on a survey of about 2,000 Germans, edged down to 9.7 from 9.8 a month earlier. Household spending and construction have become important drivers of growth in Europe's largest economy as its exports falter. "The trade war with the United States, ongoing Brexit discussions and the global economic slowdown continue to drive fears of a recession," GfK researcher Rolf Buerkl said.

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