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13.03.26 - 10:45
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"Consumer Sentiment Going Down": EU Auto Heads Begin Blaming Iran Conflict For Industry Woes (ZeroHedge)
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"Consumer Sentiment Going Down": EU Auto Heads Begin Blaming Iran Conflict For Industry Woes
The first-order effect of the U.S.-Iran conflict was widespread disruption across the Middle East. The second-order effect was an energy price shock that drove gasoline and diesel prices at the pump sharply higher. The third-order effect could be a deterioration in consumer sentiment amid higher energy costs, rising inflation fears, and broader economic/geopolitical uncertainty.
The transmission of the energy shock to consumers appears to have materialized just 12 days into Operation Epic Fury, according to executives at Volkswagen and Volvo Car, who report that consumer sentiment has already softened.
"We are already seeing customer sentiment decline in many markets," Volkswagen Head of Sales Martin Sander told an industry event in London earlier on Thursday. "Consumers were already facing a great deal of uncertainty, and this is now, of course, adding another layer of anxiety...
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13.03.26 - 10:30
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European Shares Retreat On Inflation Concerns (AFX)
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BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European shares traded lower on Friday and were set for weekly losses as a continued rise in crude prices amid an escalating conflict in the Middle East fueled......
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