German consumer mood improves

German consumers remained troubled by the impact of the war in Ukraine despite a modest improvement in their confidence heading into June, according to a key survey published Wednesday.

Pollster GfK's forward-looking barometer rose to minus 26 points for June, up from minus 26.6 the previous month, an historic low for the indicator.

The improvement in consumer sentiment was  "marginal", GfK consumer expert Rolf Buerkl said.

"Despite the relaxation of coronavirus-related restrictions, the Ukraine war and inflation above all are weighing on the mood of consumers," Buerkl said.

The outbreak of the war has driven increases in the cost of energy, food and raw materials for which Ukraine and Russia are key suppliers.