German consumers are planning to further increase their spending in the following three months, according to the ‘Handelsverband Deutschland’ (HDE) consumer barometer, which reached a new peak in June.
“The domestic economy activity remains intact and private consumption is still a driving force for the German economy as a whole”, says HDE chief executive Stefan Genth.
A decline in savings and the ongoing low interest rate environment are motivating factors driving consumer spend, the HDE added.
However, the HDE consumer barometer also shows that the income expectations for the coming three months are slightly declining.
'Provide Relief'
“It’s important to provide relief now," said Genth. "For those with small and medium-sized incomes, taxes and duties have to be reduced. With regard to the state’s record surplus, it’s time to give the citizens back some of their hard-earned money and to strengthen the purchasing power permanently"
The HDE consumer barometer is published monthly and is based on a survey of 2,000 people, measuring their willingness to spend and save money, their financial situation and other factors relevant to consumption. It is not a measurement of current consumer behaviour; rather it focuses on expected behaviour for the following three months.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Larissa Zimmer. Click subscribe to sign up to ESM: The European Supermarket Magazine.
