German consumers begin to worry about Ukraine

The Ukraine crisis is beginning to rattle consumers in Europe's top economy and cast a slight shadow over their optimism in the German economy, a poll showed on Tuesday. "Apparently the events in Ukraine are showing their first effects," market research company GfK said in a statement. "Relating to the further economic development of Germany, citizens seem to be slightly unsettled for the first time," it said. Overall, GfK's headline household confidence index remained steady in April at 8.5 points. But the outcome among households is in contrast to German businesses whose confidence grew in April, according to the Ifo economic institute's closely-watched index. The latest GfK survey, based on responses from about 2,000 households, also showed a slight drop in economic expectations from March to April, the first since mid-2013. Willingness to spend money also fell, the survey showed, pointing to possible effects of the Ukraine crisis, while expectations over pay was the only indicator that rose in April. For May, the GfK forecasts the index remaining stable again at 8.5 points.