Consumer sentiment is suffering from a hard Lockdown

GfK consumer climate study for January 2021 Consumer sentiment is suffering from a hard Lockdown

The hard Lockdown in Germany the consumer climate in January to break in. According to the GfK consumer climate study, this is in addition to the moderate decline in the income Outlook rates, mainly due to the crash of the propensity.

The consumer mood in Germany is subdued in January 2021 strong again. Blame it on the re-hard Lockdown is. “The closure of gastronomy and large Parts of the trade in mid-December 2020 has been taken by the propensity to consume just as hard as the first Lockdown in the spring of last year. Currently, the propensity to falls on zero points. This is compared to the previous month-a Minus of 36.6 points, during the first lock-downs in April 2020, the losses amounted to 36 points,“ says Rolf Bürkl, GfK consumption expert.

Germany is concerned

The recently adopted extension of the measures for the Lockdown have, in addition, hopes of a rapid recovery in Consumer sentiment to wane. “The consumer climate are faced with difficult times in the first quarter of this year. For a sustainable recovery, it is necessary that the number of cases is stronger than in the past go back, so that the measures can be significantly relaxed. This means that for this year many of the hoped-for recovery will be something to wait for,“ said Bürkl more.

Results of the current GfK eBUS survey show that 81 percent of German citizens are of the opinion that Covid-19 for Germany, a large or even very large threat. This is the highest value measured since the beginning of the surveys (mid-April 2020). Only 15 percent feel a minor threat, or are completely unimpressed. Also, on the question of the Worries about the personal economic future, in the light of the corona crisis, the values reach an all-time high of 54 percent Worry about their personal economic future in these times of crisis make. Show 43 per cent more likely to be less, or not at all concerned.

Income expectation

Also, the income prospects of consumers of the hard Lockdown is not spared. The indicator has lost 6.5 points and drops to -2,9 counter. This is the fourth decline in a row. In comparison to the corresponding period last year, this means a loss of 47.5 points.

Due to the extension of the hard lock downs until the middle of February is increased also the probability that it may occur in the affected sectors to a broke shaft, according to market researchers GfK. This increases the fear of job loss and charged to the income prospects. In addition, is likely to increase as a result of the hard lock downs, the number of workers on short time again, which also negatively affects the income of households.

Economic maintenance

The Economic expectations recorded in contrast to the propensity to consume and the income expectations this month, only slight losses. The indicator loses to 3.1 meters and has currently 1.3 points. In comparison to the prior-year period, there is even a Plus of five points. The stable development of the economic indicator is due, on the one hand, given the deep recession, stable labour market. Secondly, a substantial part of the German economy, the manufacturing sector, not of closure concerned, the GfK explains. Thus stabilized, so the order situation in this area.

To Study

The survey period for the current analysis was from the 7. to 18. January 2021. The results are an excerpt from the study “GfK consumer climate MAXX” and are based on monthly, around 2,000 consumer interviews conducted on behalf of the EU Commission. In this Report, the indicators count be treated, and forecasts, and comments. In addition, information about the output, see the consumer project for 20 areas of consumer goods, consumption goods and services markets.

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