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- Germany's consumer climate improving slightly in November
Germany's consumer climate improving slightly in November
According to the report from GfK Group, сonsumer sentiment in Germany picked up again in November. Both economic and income expectations have seen a marked increase. Propensity to buy has remained at a very high level despite marginal losses. As a result, GfK has forecast a figure of 9.7 points for December, 0.1 index points higher than November's level (9.6 points). The index was expected to remain at 9.6. Known risk factors such as the global economic slowdown, trade conflicts and the chaos surrounding Brexit have resulted in a slight drop in the consumer climate when compared to the same period last year. Nevertheless, the indicator's level can still be described as highly satisfactory while propensity to buy remains stable.
"The exceptionally high levels of consumer confidence among German consumers have significantly contributed to preventing a recession in Germany in the third quarter. Private consumption has thereby perfectly fulfilled its role as an important pillar of the economy," Rolf Bürkl, consumer expert at GfK explains. "Consumers are therefore optimistic about the upcoming holiday season, one of the busiest times of year for a number of retail industries such as consumer electronics and toys. How the year as a whole will be evaluated is determined during this period. And the retail sector can certainly look forward to this period with a healthy dose of optimism."
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