The upward trend in the consumption mood of German consumers: for the time being, it is ended. This emerges from current survey results that the trade association Germany (HDE) published on Monday. “Caution continues to determine the actions of consumers,” said the industry organization in a message. “A noticeable recovery of private consumption is therefore not to be expected in the near future.”
The association referred to the current HDE consumption barometer for August. The monthly index, which is based on the survey of 1,600 people on the topics of consumer -relevant topics, has decreased slightly compared to July, according to a statement. In the previous months he had risen slowly but steadily. “It remains to be seen whether the stagnation of the consumer mood is the beginning of a negative trend and depends on the Federal Government’s economic policy measures and the development of the geopolitical framework in the coming months,” said the HDE.
The trade association expects “no thrust in private consumption”
With regard to the overall economic perspectives, the respondents were little more confident in August than in the previous month. “A new recession does not fear consumers, but they obviously also consider significant growth to be unlikely,” explained the association. The study participants assessed more positively: at least the development of their own income. At the same time, however, they also expected an “increasing price increase rate”.
In view of the ongoing uncertainties and lack of growth impulses, the acquisition of the respondents only increased marginally compared to the previous month. The endeavor to create savings increased more.
“Consumers continue to act with caution and are waiting for impulses. They do not believe in a short -term economic recovery,” summed up the HDE. “Due to the prevailing uncertainty, there will probably be no boost in private consumption in the coming months.”