Consumer climate
Bad buying mood won’t get better quickly next year
The consumer climate in Germany remains at a low level. The main reasons are high prices and the fear of losing jobs.
After a rather mixed Christmas business so far, private consumption in Germany will not be a major driving force for the economy next year either. “A sustainable recovery in the consumer climate is still not in sight; the uncertainty among consumers is currently too great,” says consumer expert Rolf Bürkl at the presentation of the monthly consumer climate study by the Nuremberg institutes GfK and NIM.
However, the mood to buy has recently increased at least somewhat. Both income expectations and the propensity to buy improved in December, the institutes announced based on their latest study. At the same time, the propensity to save has declined somewhat.
For January, the GfK study predicts an increase in consumer sentiment by 1.8 points to -21.3 points. For comparison: Before the corona pandemic, the consumer climate was stable and 30 points better.
“After the slump in the previous month, consumer sentiment is improving slightly, but can only partially compensate for the declines previously suffered, said Bürkl. “In retrospect, we have seen at best a stagnating development since the middle of 2024.”
The main reason for the subdued mood is high food and energy prices. In addition, in view of numerous reports of staff cuts, concerns about job security are increasing.
Households’ expectations regarding their income have also recovered somewhat recently. However, it is currently significantly worse than it was in the summer. Weak growth forecasts from economic researchers and rising unemployment figures are currently preventing an even stronger recovery.
GfK surveys 2,000 consumers every month for the consumer climate study on behalf of the EU Commission. The latest study was conducted from December 5th to 16th.
dpa
Source: Stern
