Coronavirus

Consumer climate is recovering somewhat from the corona shock

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The consumer climate in Germany recovered slightly after the shock of the corona pandemic in the previous month. The consumer climate research institute Growth from Knowledge (GfK) set the consumer climate index for June at minus 18.9 points – 4.1 points more than in the forecast for May. However, this is still the second lowest value ever measured for the consumer climate in Germany, the consumer researchers from GfK said on Tuesday.

In terms of propensity to buy, the index rose by ten points compared to the forecast from a month ago, to a value of 5.5. Nevertheless, there was a minus of 45 points compared to the same month in the previous year.

While “a lot of consumers were shocked by the terrible pictures from northern Italy, New York and Spain” in April, as the GfK writes in a press release, “there is no further case of the consumer climate in May”.

GfK consumer expert Rolf Bürkl said: “The gradual opening of many stores has certainly contributed to the fact that the propensity to consume no longer has to accept any losses and is currently even able to grow somewhat. Nevertheless, there is great uncertainty among consumers. You don’t see the German economy by a long shot and a severe recession is coming. The fear of job loss remains high and this is currently proving to be an important barrier to consumption alongside the loss of income. Dealers and manufacturers must continue to adjust to this. “

ph / with material from dpa.

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