Consumer climate almost at pre-crisis level

Consumer sentiment is improving again, according to the September study conducted by the German market research institute GfK. On average, people are expecting higher incomes and are more inclined to consume, there is also a declining tendency to save. The consumer climate has thus reached its highest level in almost one and a half years. The employment situation is extremely stable; emerging discussions about inflation do not influence the mood significantly.

"The rise in incidence of the corona virus has slowed down considerably at the time of the survey, and currently the figures are even slightly declining. Thus consumers are more and more optimistic that the fourth wave will be less severe than many feared," explains Rolf Bürkl, GfK consumer expert. Whether there will be a fundamental trend reversal remains to be seen.

In contrast to economic and income expectations, the propensity to consume is (still) at a low level. According to GfK, it will only recover on a long-term basis once face masks and distance regulations are no longer mandatory.

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