According to a survey, consumers are more interested in shopping again. The trade association is cautiously optimistic.
Retailers are seeing a further improvement in consumer sentiment in Germany. As the German Retail Association (HDE) in Berlin reported, the HDE consumer barometer rose for the fifth time in a row, reaching its highest level since August 2021. “The fact that consumer sentiment is improving indicates a medium-term recovery in private consumption,” the association said.
In the coming weeks, consumers are planning to shift their spending from saving to consumption. “Their propensity to buy is increasing compared to the previous month, while no expansion of savings efforts is planned.” This could be the basis for a possible recovery in private consumption over the course of the year. In the first quarter, private consumption was still weak due to a high savings rate.
The monthly HDE consumer barometer is based on a monthly survey of 1,600 people on their propensity to buy, their propensity to save, their financial situation and other consumption-relevant factors.
Source: Stern
