Consumption in a Corona-times: buying mood of the consumer is returning only slowly

The purchase desire of the consumers in Germany according to the relaxations in the Corona-crisis - albeit slowly. The Nuremberg-based consumer research firm Gf

Consumption in a Corona-times: buying mood of the consumer is returning only slowly

The purchase desire of the consumers in Germany according to the relaxations in the Corona-crisis - albeit slowly. The Nuremberg-based consumer research firm GfK forecasts for July to a value of minus 9.6 points, much better in June with a minus of 18.6 points, but still the third worst ever determined value. The consumer is awakened, increasingly, from the state of shock, which had led in April to an unprecedented crash of the mood. "The faint light at the end of the tunnel, which started last month, is apparently a bit brighter," said the GfK consumption expert Rolf Bürkl.

"But we are not out of the woods yet", stressed Bürkl. It is doubtful whether the economic climate will ever again reach the value it had before the crisis. "It could turn out that buying behavior is changing," said Bürkl. The question: "do I Need this?" become more frequent than in the past. Added to this is the risk of a Corona-back flip. Infection events, such as in meat establishments in North Rhine-Westphalia, or in the case of controversial Tennis events in Croatia could lead to uncertainty.

the Threat of Insolvenzenund short-time work

"Germany is in a severe recession," said Bürkl. This could lead in the autumn to insolvencies and a further increase in unemployment. "The question is, how many of the seven million short-time workers will then be unemployed," he said. The fear of job loss, pressures remain on the consumer climate, even if the incentives of the Federal government may be a purchase or other should be preferred.

with regard to the economic Outlook, has returned Confidence in the German mind. The GfK indicator of consumer sentiment is currently at 8.5 meters, and even over the long-term average of Zero. The pessimism in respect of the income is disappearing more.

Updated Date: 25 June 2020, 05:19

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