Buying mood dropped to a nine-month low

Released on 25.11. 2021

  • Customers stroll through a shopping center decorated for Christmas in Berlin. Photo: Bernd von Jutrczenka

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The consumer climate is currently being gripped by sides: let inflation and corona. Researchers see the prospects for the upcoming Christmas season subdued. 2021

Nuremberg (dpa) – The researchers at the Nuremberg consumer research company GfK have dampened the prospects for the upcoming Christmas business due to the influences of the fourth corona wave and the comparatively high inflation.

“The consumer climate is currently being gripped from two sides,” said GfK consumer expert Rolf Bürkl. The propensity to buy has fallen to a nine-month low – a lower level was last recorded in February 2021.

In the current GfK consumption study, the economic expectations indicator fell for the second time in a row. This is still higher than a year ago, when Germany went into a long winter lockdown. But also well below the value from the summer of this year. Bürkl blamed the semiconductor and supply chain bottlenecks, among other things, for the weaker development. In the case of consumer electronics products and cars, this means that production has to be throttled.

Germans’ expectations of the development of their incomes have also fallen to the lowest level since April. The production restrictions, some of which lead to short-time working, are also a reason for this. A second is inflation, which leads to reduced purchasing power.

GfK had for the study from 4th to 15. November as part of the study “GfK Consumer Climate MAXX” on behalf of the EU Commission around 2000 consumer interviews. The study is repeated monthly.

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