According to a survey, consumers are once again more pessimistic about the future. This could have a negative impact on their purchasing mood.
According to the retail sector, the mood of consumers in Germany has worsened. The consumer barometer, which is surveyed monthly by the German Retail Association (HDE), fell again in September. According to the survey, consumers are once again more pessimistic about economic developments and their own income and are therefore planning fewer purchases in the coming months.
“The current overall economic environment is not conducive to private consumption,” the HDE continued. In view of this development, it cannot be assumed that a recovery in private consumption will succeed this year. There is no growth stimulus for retail in sight. “Without private consumption as a growth driver, the further economic outlook will also become bleaker,” it said. A decline in gross domestic product is therefore also possible.
According to the consumer barometer, consumer sentiment recovered somewhat in the first half of the year and rose for several months in a row. The upward trend ended in July and the index has fallen again since then. The trade association surveys 1,600 people every month about their propensity to buy and save, their financial situation and other consumption-related factors.
Source: Stern
