GfK: consumer sentiment noticeably deteriorated in Germany

By: Trademagazin editor Date: 2020. 10. 22. 11:04

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As a result of the intensifying coronavirus pandemic, consumer sentiment deteriorated markedly in Germany in October, according to a survey by the GfK Nuremberg Economic Research Institute on Thursday.

After a strong improvement in the summer months, the upward dynamics broke in September and Gfk’s consumer sentiment index turned to a noticeable decline. According to a survey conducted in the first half of October, in addition to deteriorating economic and income expectations of consumers, the willingness to buy also declined. (MTI)