2010 may be worse for German households, than last year

In 2009, consumption in Germany increased by 0.4 percent, boosting the economic development. In 2010, household spendings are expected to stagnate – appears in the latest research of GfK Group.

Most of the Germans did not detected the economic crisis in their living and financial conditions, during last year. The labor market showed a surprisingly strong growth in 2009: nearly a million people escaped from unemployment due to the shortened working time. According to the survey of GfK Consumer Confidence Index; the alling prices, boosted consumer purchasing power and the willingness to purchase. On international comparison, German consumers have proved Europe’s most optimistic people.