Fear of terrorism? Proposed referendum on United Kingdom membership of the European Union-worry? Of this, German consumers can not keep. The mood among consumers has even improved slightly: The GfK consumer confidence index for September rose to 10.2 points – after 10.0 points in August. This has a simple reason, says an expert.
The planned withdrawal from the EU Britain have German consumers unsettled briefly, informed GfK market research company. And the attacks in Würzburg, Ansbach and did not lead to restraint in buying behavior. “This does not have any lasting effect shown,” said consumer researcher Rolf Bürkl.
Overall economic development assess the consumer Although more reluctant and the economic indicator correspondingly declined slightly. “However, citizens continue to expect on the assumption that the German economy will continue to grow moderately in the coming months,” it said by GfK.
In the income consumers hand again expect rather more in purse , This indicator put accordingly significantly by 8.6 points to 58.3 meters to and made the losses in the previous month so that almost made up for it. Income expectations lie therefore remains at a very high level. Also in relation to their own financial situation are the consumers “euphoric”
labor market is “the key factor”
And this is fully justified. “A very good and stable employment situation , significantly increasing incomes for workers and pensioners and a virtually non-existent inflation will make in the coming months for a strong earnings optimism. ” This is the “secret” behind the very stable and even improved consumption sentiment, Bürkl said. The desire to buy remains as strong as ever. The propensity is gaining slightly to
“This supports my thesis that the decisive factor for the consumer sentiment of the labor market is” Bürkl said. “In particular, the question of whether the employees actually fear for their own jobs have.” This fear was in Germany is very low or virtually non-existent and has been for a prolonged period.
This gives consumers planning certainty with regard to major purchases. At the moment also see it from so that interest rates remain so in the coming months in the cellar. “This is likely to use additional support,” the researchers
Hardly uncertainty caused by refugees
The large number of refugees have the German way, not insecure sustainable Bürkl said. “In the economic expectations and the expectations of unemployment in general, the issue has been felt in the past late summer and autumn and also provided, for example, the exhaust gas scandal at VW clearly in the shadows.”
In the meantime were here but no effect discernible. On the consumer sentiment the topic had far less influence a year ago. “People know that there may be overall economy a burden. But they had no fear that the refugees take them to work away,” Bürkl said.