Every German resident spent more than a thousand euros less last year

By: Trademagazin editor Date: 2021. 04. 20. 11:05

The Germans spent 1250-1750 euros less last year than last year. Citizens withheld their spending mainly on services, according to a report by the IW Institute for Economic Research in Cologne on Tuesday.

The survey shows that consumers are already judging their financial opportunities more favorably this year than last year, but their willingness to spend has not returned to normal. 43 percent of the population saves a portion of their current disposable income above basic spending, compared to a rate below 30 percent of years earlier. Barely a third of the population plans to spend on holidays, while normally almost half. (MTI)