The mood of German consumers: inside remains volatile. After the “clear damper” in January, the trade association Germany (HDE) sees a “slight brightening” in the current month.
At the same time, the industry organization warned of premature optimism. “However, this development is not to be interpreted as a recovery, but initially only as a result of the waiting behavior of consumers about directional events such as the upcoming Bundestag election,” said the HDE.
The basis of the statements was the current HDE consumption barometer for February, which was published on Monday. The monthly index, which is based on the survey of 1,600 people on consumer -relevant topics, had increased slightly compared to the previous month.
For the time being, the trade association does not expect “noticeable growth” in private consumption
The consumers surveyed: The development of the overall economy rated the development inside similar to the previous month. On the other hand, the individual income expectations were somewhat upwards. “This should already be factored in and ticked off the income -relevant changes in taxes and social security contributions at the turn of the year,” said the students: Inside, “and from the labor market, no major risks are expected for their own work and thus their own incomes.” In addition, the respondents calculated with it that inflation will not increase further for the time being.
However, the HDE dampened the hopes of retail. The study participant’s acquisition tendency: Inside, the association declared again in February. At the same time, consumers planned: “but not to” reinforce their savings efforts. “
So the conclusion was behavior. With a view to private consumption, the respondents were “continued to be waiting and reserved,” stated the HDE. “A noticeable growth is therefore not to be expected in the coming months.”