The Germans’ desire to buy has returned just in time for the Christmas business. The consumer climate has risen for the third time in a row, said the Nuremberg-based consumer research company GfK on Wednesday as part of its monthly consumer study. Both the economic and income expectations as well as the propensity to buy have gained.
Above all, energy prices, which rose more moderately than expected, contributed to the favorable development. The federal government’s relief packages also brightened consumer sentiment. “The light at the end of the tunnel is getting a little brighter,” said GfK consumer expert Rolf Bürkl.
“The federal government’s measures to cushion the skyrocketing energy costs are clearly having an effect,” he analyzed. But it is too early to give the all-clear. “The recovery of the consumer climate, as we are currently seeing it, is still on shaky ground,” said Bürkl.
Despite the slight improvement, the consumer climate is still at an almost historically low level. “Consequently, the lack of consumption will remain a burden for economic development in Germany in the coming year,” predict the Nuremberg researchers.
The GfK survey made it clear that the more moderate increase in energy prices, the relief given to politicians and the wage agreements of the past few weeks could lead to people considering the loss of purchasing power to be manageable. However, income expectations remain at a level well below the previous year. This also applies to the propensity to buy, which has stabilized somewhat.
On behalf of the EU Commission, GfK consumer researchers survey 2,000 people every month about the consumer situation in Germany. The survey period for the current analysis was from December 1st to 12th. (dpa)