Germany: Consumption isn’t a pillar of the economy in 2021

Rising infection rates and the need to tighten the lockdown restrictions are weighing on the consumer climate in Germany. While the propensity to buy again increased moderately, economic and income expectations decreased significantly. As a result, GfK is forecasting a decrease of 8.8 points in consumer confidence for May 2021, down 2.7 points from April this year (revised from -6.1 points). These are the findings of the GfK Consumer Climate Study in Germany for April 2021. Hopes for further easing of restrictions and a revival of consumption have been noticeably dampened. Above all, the tightening of contact … (full story)

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