Optimistic German consumers

In 2016 the German economy’s growth rate was 1.9 percent. As for grocery retail, in the last quarter of 2016 values sales were only 0.3 percentage points higher than in the third quarter. Prices elevated by 1.5 percent and volume sales dropped 1.2 percent. The confidence index of German consumers was at 101 points – this is 20 points higher than the European average. With this score Germany is ranked 5th on the continent, behind Denmark (107), the Czech Republic (103), Switzerland (102) and the United Kingdom (102).

From the three components of the index, German consumers were more optimistic about their own financial situation than other Europeans: 57 percent of Germans said their financial perspectives were good or excellent – this proportion was only 42 percent at a European level in Q4 2016. 50 percent of German consumers think the time is right to buy what they need or want.