German consumer confidence stalls: HDE report
The HDE's findings are based on the August HDE Consumer Barometer, a monthly index derived from a survey of 1,600 people. The index saw a slight dip in August after several months of slow but steady growth. The HDE noted that it remains to be seen "whether the stagnation in consumer sentiment is the beginning of a negative trend," adding that this would depend on "the economic policy measures of the German government and the development of the geopolitical environment in the coming months."
While respondents were slightly more optimistic about the overall economic outlook, they don't anticipate significant growth, with the HDE stating, "Consumers are not afraid of another recession, but they also do not seem to consider significant growth likely." Participants had a more positive view of their personal income development but also expected "an increasing rate of price increases." This combination of uncertainty and a lack of growth impulses meant that while the willingness to buy increased only marginally, the desire to save grew more significantly. The HDE concluded, "Consumers continue to act with caution and are waiting for impulses. They do not believe in a short-term economic recovery. Due to the prevailing uncertainty, there will likely be no boost in private consumption in the coming months." This article was translated to English using an AI tool.
FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com
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