The majority of Germans is willing to take your money for major purchases. This is evident from the current consumer climate study conducted by the Nuremberg-based market researcher GfK. “Apparently undeterred by external risks, such as trade, conflict, and Brexit the consumers are willing to spend their money”, – stated in the study. For November, the researchers expect that the consumer confidence index remains at 10.6 points. This corresponds to the value of the previous month.
According to the experts, the German consumers are in terms of the situation on the labour market to be optimistic. “The fear of job loss remains high to low and thus, the planning security. This boosts the consumer,” said GfK consumer researcher Rolf Bürkl. In addition, increases in income had a positive impact: “The consumer remains in real terms in the money bags.” Also pensioners have benefited from the development of wages.
Less positive expectations for the economy
consumers continued to expect the German economy this year and next year, stay with a solid growth trend, says Rolf Bürkl. However, their economy have diminished optimism in comparison to last year. “I’m going to assume that it is a temporary phase of weakness”, said Bürkl.
Save given extremely low interest rates continues to be no attractive Alternative for the majority of consumers. For the year as a whole, GfK expects private consumption in real terms rising by 1.5 per cent.
A risk, the experts see the further development in connection with the exhaust gas scandal. If the exports of diesel should break in cars, could be Employed to fear in these industries, their Jobs and decide to save more. Also the rising inflation mountain risks, for example, if inflation rates above 2 percent solidified.
consumer climate study is based on monthly around 2,000 consumer interviews on behalf of the European Union. The consumer climate not only refers to the expenditure in retail, but also includes Rent, travel, and health.