The opinion of German consumers is stabilized with the help of energy solutions -GfK | So Good News


BERLIN, Nov 25 (Reuters) – German consumer sentiment is expected to change in December as strong government measures help stabilize levels above record lows two months ago and still show a slowdown in consumption, a GfK survey showed. on Friday.

The agency said its consumer sentiment rose to 40.2 in December from a negative reading of 41.9 in November, and below the forecast of analysts polled by Reuters of a negative 39.6.

October recorded the lowest reading in more than a decade at 42.8.

The negative reading shows a year-on-year decline in private drinkers.

“Consumers’ long-term fears about rising energy prices have eased somewhat, which is helping the consumer climate somewhat,” said Rolf Buerkl, GfK’s consumer analyst.

Although the gas payments to households in December next year and the price of gas and electricity next year helped to change the mood, the situation is still difficult and there will be no big, sustainable recovery as long as the doubt about electricity remains. , added Buerkl.

A subindex measuring willingness to buy was the only one to fall in November, falling to -18.6 from -17.5 in October, as consumers remain invested in anticipation of a burst of strong credit in the coming months, GfK said.

Prices Verivox said last week that many German households are facing another increase in electricity and gas in January 50% due to the reduction of suppliers passing the market prices and the increase in the cost of the grid.

NOTE – The survey period was between Nov. 3 and Nov. 14, 2022.

The consumer’s weather indicator predicts the development of real-estate products in the following month.

A reading above zero indicates year-over-year growth in private consumption. A value below zero indicates a decrease compared to the same period last year.

According to GfK, a one-point change in the index corresponds to a year-on-year change of 0.1% in special foods.

The “willingness to buy” indicator represents the balance between positive and negative responses to the question: “Do you think now is a good time to buy large items?”

Expected income forecasts reflect expectations for growth in the housing market over the next 12 months.

An additional index of business expectations reflects respondents’ assessment of the economic outlook over the next 12 months.

Miranda Murray Reports Editing by Tomasz Janowski

Our Standards: Thomson Reuters Trust Principles.


Source link