German consumer confidence unexpectedly falls to lowest in over three years in the shadow of the Iran war

The index for May, published on Monday, fell to minus 33.3. This compares with an average forecast among analysts of minus 30.0, according to a compilation of forecasts by the news agency Bloomberg.

The decline was from minus 28.1 the month before.

Higher energy prices and inflation concerns in the wake of the Iran war are weighing on consumers' confidence in the future.