Germany Gfk Consumer Sentiment for December dropped to -6.7, down from -3.2, as sentiment was “significantly dampened by the partial lockdown”. November’s economic expectations dropped from 7.1 to -0.2, lowest since May. Income expectations dropped from 9.8 to 4.6. Propensity to buy also dropped from 37.0 to 30.5.
“Though stores will remain open, the renewed shutdown of the hotel, restaurant and events industry – as well as the already struggling tourism industry – has had a serious impact on the consumer climate,” explains Rolf Bürkl, consumer expert at GfK. “As a result, any hope we still had in early summer of a rapid recovery is now lost. Growing uncertainty has once again led to an increase in propensity to save, another factor which has contributed to the decline in the consumer climate.”
