In November, GfK’s consumer sentiment index in Germany continued to deteriorate
According to the GfK economic research institute, consumer sentiment in Germany deteriorated for the third consecutive month in November, and no improvement can be expected until the end of the year.
GfK’s consumer sentiment index in Germany deteriorated from minus 26.7 points in the previous month to minus 28.1 points by 1.4 points instead of the expected minus 26.6 points in November.
According to experts, with the drop in the sentiment index in November, the hopes for an improvement in consumer sentiment can be “forgotten” for the rest of the year. Above all, high food prices weaken the purchasing power of German households, and thus private consumption will not be a pillar of the economy this year.
Income prospects remain in the stranglehold of inflation. The increase in the willingness of households to save also indicates a further deterioration in consumer sentiment: the indicator increased from 8.0 points in October to 8.5 points in November.
After stabilizing the previous month, the index of income expectations deteriorated by 4.0 points to minus 15.3 points by November.
Related news
How big will the wage increase be next year? Three factors that will determine the development of the Hungarian labor market
In addition to the further decline in unemployment and the…
Read more >Shoppers don’t want sustainable, but they want organic?
In Germany the proportion of people who regularly buy sustainable…
Read more >Retail sales in Russia slowed, but industrial production growth accelerated, unemployment at record low
Russia’s retail sales slowed in October, while industrial production growth…
Read more >Related news
Master Good, Nestlé Hungária, Tesco Hungary are this year’s winners
This year, Trade Magazine announced the Christmas TV Ads 2024…
Read more >This year’s CO-OP Star Silver Pine and Silver Star awards have been presented
As every year before Christmas, this December, the CO-OP Star…
Read more >Declining company numbers, permanent half-million limit
In 2024, the number of partnerships is expected to decrease…
Read more >