Germany: Strict lockdown eroding consumer sentiment

As 2021 begins, consumer confidence in Germany is suffering under the strict lockdown. Propensity to buy is in freefall, while both economic and income expectations have registered moderate declines. As a result, GfK is forecasting a decrease of 15.6 points in consumer sentiment for February 2021, down 8.1 points from January this year (revised to 7.5 points). These are findings of the GfK Consumer Climate Study Germany for January 2021. In addition to the moderate decrease in income expectations, the renewed slump in consumer sentiment in Germany is due largely to the collapse of propensity to buy. “The closure of … (full story)

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