Latest news with #GfK
Yahoo
2 days ago
- Business
- Yahoo
German retail sales slip 1.6% in May as consumer spending falters
Germany's retail sales unexpectedly fell by 1.6% in May from April, according to the federal statistics office, surprising analysts who had forecast a 0.5% rise. This marks a sharper drop than the 0.6% decline seen the previous month and raises fresh concerns about the strength of consumer spending heading into the second quarter. Retail figures showed a sharper contraction than anticipated, following a 0.6% drop in April. Economists warn that a recovery in spending is unlikely in the short term, making sustained economic momentum doubtful after strong first‑quarter growth spurred by earlier consumption. Alexander Krueger of Hauck Aufhaeuser Lampe remarked that "[a] large and sustained jump in consumption is not expected for the time being". Consumer mood has cooled, with GfK and NIM surveys recording sentiment at minus 20.3 points for July. The survey of roughly 2,000 households highlighted an increase in saving tendencies amid lingering uncertainty. This cautious stance contradicts government and business hopes that consumption would shore up economic activity as export growth wanes. The dip in retail sales comes ahead of June inflation data, expected later today to show a slight rise to 2.2% from May's 2.1%. Preliminary figures from three key German states—Bavaria, North Rhine-Westphalia and Lower Saxony—suggest inflation eased to around 1.8–2.2%, though Baden-Württemberg saw a minor uptick. Economists view this as a sign of stabilising price pressures that may allow the European Central Bank to hold steady on interest rates. Analysts including Thomas Gitzel of VP Bank say first‑quarter growth is unlikely to be repeated in Q2. With retail sales dropping and consumers hoarding cash, the prospect of a robust second-quarter performance seems remote. While some manufacturing and services activity has returned to growth, domestic demand remains weak. Ultimately, consumer spending drives headline growth in Germany's economy. The unexpected retail sales drop in May, coupled with cautious sentiment and steady inflation, signals that domestic demand may struggle to pick up pace in the near term. That could constrain GDP gains in the months ahead. "German retail sales slip 1.6% in May as consumer spending falters" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
4 days ago
- Business
- Time of India
Consumer electronics reshuffle: Panasonic exits refrigerators and washing machines in India, to focus on HVAC and B2B
Japanese electronics major Panasonic has exited India's refrigerator and washing machine segments as part of a global restructuring strategy, marking a shift toward more profitable and future-ready verticals such as HVAC, B2B, and home automation. Tired of too many ads? go ad free now The two segments had been loss-making for the company in India, where it struggled to gain market share. According to GfK data, Panasonic's market share stood at just 1.8% for washing machines and 0.8% for refrigerators, with six consecutive years of sales losses reported in both categories. 'This is in line with our global strategy and evolving market dynamics,' a Panasonic Life Solutions India spokesperson said in a statement, quoted PTI. 'We will focus on HVAC – commercial and residential – and televisions in the Panasonic Consumer Business category, and discontinue washing machines and refrigerators.' The company will support dealers in liquidating existing inventory and will continue to offer full customer service including parts and warranty coverage, the spokesperson added. The decision follows a broader directive by Panasonic Group CEO Yuki Kusumi, who in May announced plans to exit unprofitable businesses globally in order to break stagnation and drive future growth, PTI reported. For its India operations, Panasonic will continue to invest in key verticals such as home automation, electricals, energy solutions, and B2B technologies. Its consumer electronics portfolio—spanning air conditioners, televisions, kitchen appliances, beauty products, and Lumix cameras—will remain intact, the company clarified. 'In our journey towards long-term sustainable growth, we acknowledge that the evolving business model has led to certain roles being restructured,' the spokesperson said. 'This is a difficult but necessary step, and we deeply appreciate the contributions of our impacted employees.' Panasonic India reported revenue of around Rs 11,500 crore in FY25, posting double-digit growth overall.
Wall Street Journal
7 days ago
- Business
- Wall Street Journal
German Consumers Grow More Cautious as Confidence Slips
German consumer sentiment edged lower for the first time in four months as households opted to boost savings, despite greater optimism surrounding their income prospects. The consumer-climate index published by research groups GfK and the Nuremberg Institute for Market Decisions fell to minus 20.3 in its forecast for July, 0.3 points weaker than in June. Economists polled by The Wall Street Journal expected the gauge to be a stronger minus 19.0.
Reuters
7 days ago
- Business
- Reuters
German consumer sentiment dips in July due to rising savings appetite, finds GfK
BERLIN, June 26 (Reuters) - German consumer sentiment is set to edge lower heading into July as households' increased willingness to save counteracts improving income prospects, a survey indicated on Thursday. The consumer sentiment index, published by GfK market research institute and the Nuremberg Institute for Market Decisions (NIM), fell to -20.3 points from a slightly revised -20.0 points the month before. Analysts polled by Reuters had predicted a slight rise, to -19.3. "After three consecutive increases, the consumer climate has thus suffered a slight setback," said Rolf Buerkl, consumer analyst at NIM. "This is primarily due to the increased willingness to save," he said, which jumped 3.9 points to 13.9 points - its highest level in more than a year. "A high willingness to save among consumers is also an expression of their continuing uncertainty," Buerkl noted, citing unpredictable U.S. trade policies as one factor. Income expectations, on the other hand, continued their recovery for the fourth straight month, rising 2.4 points to 12.8 points, supported by favourable wage agreements and moderate inflation. Economic expectations also climbed seven points to 20.1 points - the highest level since the outbreak of the Ukraine war - as consumers anticipate recovery driven by a 500-billion-euro ($580.15 billion) defence and infrastructure stimulus package. NOTE - The survey period was from May 30 to June 11, 2025. An indicator reading above zero signals year-on-year growth in private consumption. A value below zero indicates a drop compared with the same period a year earlier. According to GfK, a one-point change in the indicator corresponds to a year-on-year change of 0.1% in private consumption. The "willingness to buy" indicator represents the balance between positive and negative responses to the question: "Do you think now is a good time to buy major items?" The income expectations sub-index reflects expectations about the development of household finances in the coming 12 months. The additional business cycle expectations index reflects respondents' assessment of the general economic situation over the next 12 months. ($1 = 0.8618 euros)
Fibre2Fashion
24-06-2025
- Business
- Fibre2Fashion
UK consumer confidence edges up in June, but inflation fears persist
Consumer confidence in UK showed modest improvement in June 2025. The overall index score rose by 2 points to -18, marking a gradual rebound from May's -20 and April's -23, though sentiment remains weaker than in June 2024 (-14), according to Gfk. Consumers' outlook on their personal financial situation held steady. Confidence regarding the past 12 months remained unchanged at -7, while expectations for the next 12 months stood at +2, showing no movement since May, as per the latest GfK Consumer Confidence Barometer powered by the Nuremberg Institute for Market Decisions (NIM). 'This is driven by improvements in how consumers see the general economy, with scores up three points (looking at last year) and up by five points (looking at the next 12 months). Consumers have been resolute in their views on their wallets with June's personal financial situation scores (past and future) unchanged from May,' said Neil Bellamy, consumer insights director at GfK, an NIQ Company . UK consumer confidence rose modestly in June 2025, with the overall index up 2 points to -18, as per GfK. While views on personal finances stayed flat, perceptions of the general economy improved. However, inflation, rising petrol prices, and trade uncertainties continue to weigh on sentiment. The Major Purchase Index remained steady, while the savings index dipped slightly. 'Yet confidence is still fragile because the dark shadow of inflation is a day-to-day challenge for so many of us. With petrol prices set to rise in the coming weeks following the escalation of the conflict in the Middle East, and with ongoing uncertainty as to the full impact of tariffs, there is still much that could negatively impact consumers. With so much volatility, now is certainly not the time to hope for the proverbial 'light at the end of the tunnel,' added Bellamy. Public perception of the general economic situation showed clearer signs of improvement. The view of the past 12 months improved to -43 (up 3 points), while expectations for the coming year rose to -28 (up 5 points). However, both figures remain well below June 2024 levels of -32 and -11, respectively. The Major Purchase Index, which gauges consumers' willingness to make large purchases, held steady at -16. Although better than April's -19, it remains weaker than June 2024's -23. Meanwhile, the savings index slipped by 1 point to 27, continuing its decline from April's 30, though still higher than the 22 recorded a year ago. The data suggest that while confidence is inching upwards, persistent concerns over inflation, geopolitical tensions, and trade-related uncertainties continue to weigh heavily on UK households. Fibre2Fashion News Desk (SG)
