What emerged in the previous month continues: the mood of consumers: inside in Germany will be clearly clouded in September. This emerges from the current consumer barometer, which the trade association Germany (HDE) published on Monday. As a result, the index has been declining for the first time since the beginning of the year.
“After the summer break, the expectations of consumers are: steamed for the rest of the year,” explains the industry association in a message. “A recovery of private consumption is not in sight.”
Consumers’ expectations: “Dampen” for the rest of the year
The consumer barometer created by the Handelsblatt Research Institute (HRI) on behalf of the HDE is based on a monthly survey of under 1,600 people to acquire tendency, a savings tendency, financial situation and other consumer -relevant factors. The former is an important sub -indicator for retail, which remains almost unchanged. This means that consumption retention continues, although consumers’ savings tendency: inside, decreases compared to August. This is “due to their pessimism -shaped income expectations for the coming months,” said the HDE.
In addition, the view of consumers is cloudy: inside the expected development of their own income, which brakes future consumption. Coupled with pessimism when it comes to their economic expectations and in view of the lack of economic policy impulses, consumers are skeptical about an early economic upswing.
“Consumers do not seem to believe in a rapid improvement in the overall economic situation: This lacks the basis for recovery in private consumption and ultimately also for an economic upswing,” summarizes the industry association.