The trade association Germany (HDE) sees further signs of lightening the consumer climate. “The consumer mood in Germany continues uphill,” said the industry organization on Monday. She referred to the current HDE consumption barometer for July. The monthly index, which is based on the survey of 1,600 people on the topics of consumer -relevant topics, has again risen slightly compared to the previous month of June and has reached “the highest level for one year”, the association said.
At the moment, however, it is only a “cautious upward trend,” emphasized the HDE. “It can be assumed that the positive development of consumer mood will last, but will not clearly gain dynamics. If consumers remain optimistic, recovery in small steps can be expected.”
Overall, the respondents recently became more optimistic about the overall economic development than in the previous month. In addition, they calculated with “a further decreasing interest rate level” and in view of the last moderate inflation with “further decreasing price increase rates”, the association said.
The trade association does not expect a “larger growth thrust”
Consumers were less confident: on the other hand with a view to the development of their own income. “There are no obvious reasons for a more pessimistic look at the future income situation,” the students admitted: inside. “The labor market situation is still tense, but there are no serious burglaries.” The higher values may have been based in the previous months “on the expectation of relief by the new federal government”, which “continues to be long in coming”. In view of the declining income expectations, the acquisition and savings tendency of the respondents also dropped compared to the previous month.
Despite the continuing upward trend in consumer climate, the association believes that a “larger growth thrust” for the overall economy is currently not to be expected. “Consumers are still too careful for a quick recovery of private consumption, consumption retention is still noticeable,” said the HDE.