Irrespective of the galloping number of infections in the wake of the Omicron pandemic wave, consumer sentiment brightened again somewhat at the turn of the year. Compared to December, the economic and income expectations as well as the propensity to buy have improved in January, according to the Nuremberg consumer research company GfK based on its monthly survey. Despite the slight improvement: The desire to buy is still being slowed down by the pandemic – not least due to the mask requirement and the 2G regulations that have been in force up to now in parts of the retail trade.
In autumn, the consumer climate in Germany had fallen noticeably for two months in a row. The propensity to save is still pronounced – and is currently preventing a clear increase in the consumer climate. However, the Germans assumed that incomes would rise again. On the one hand, a majority believe in collective agreements that are favorable for consumers. On the other hand, many apparently hoped for a relaxation in the price increase.
Consumer expert: Consumers more optimistic at the beginning of the year
“Despite rising incidences and inflation, consumers are somewhat more optimistic again at the beginning of the year,” said GfK consumer expert Rolf Bürkl. Despite this basis effect, consumers’ price expectations remain significantly higher than in recent years, said Bürkl series of restrictions,” he stressed.
Overall, he assumes that the future prospects for consumption will depend primarily on the course of the pandemic. “If the infection situation calms down in the spring so that restrictions can be lifted, the domestic economy will recover, which has been hoped for for a long time,” said Bürkl optimistically. (dpa)