In Germany, consumers' beliefs increased by 1.2 points for October after many months of decline and increased to 22.3 points.
The results of the next month were prepared by the GFK Market Research Company and the Institute of Market decision (NIM), based in Germany, was published. Accordingly, consumer confidence index, measured by 23.5 points this month in September, increased by 1.2 points for October to negative 22.3 points. The market expectation is to increase the index minus 23.3 points. The index has decreased in three months ago. In Germany, consumer income expectations have increased from 4.1 points to 15.1 points. The trend of buying 1.5 points of consumers decreased to 11.6 points. This is the lowest level since June 2024. According to GFK, high food and energy prices cause reluctance to buying. In addition, geopolitical state increases uncertainty and reduces consumer planning safety. “Employment concern is a potential burden for consumers”
Experts of consumer researchers NIM ROLF Bürkl, in assessing the problem, consumer trust in the downtrend is at least now, saying: “It is not clear whether this is the beginning of sustainable recovery.” He warned. Saying that consumers 'trust is still very low, Bürkl said that the geopolitical situation, employment concerns and inflation fear can be prevented from comprehensive recovery in consumers' beliefs. He said. Hauck Aufhauser Lampatbank Economic Expert Alexander Krüger in his analysis, in general, consumers' beliefs continue to be more pessimistic than the actual consumer activities, “because of inflation, it was capable of continuing spending. The economy cannot develop
The German economy narrowed 0.1 % in the second quarter after a growth of 0.3 % in the first quarter of the year. The economy maintains its fragility due to permanent weaknesses in the field of production, playing a bigger role, especially than other countries in the region. The economy has difficulty growth due to increasing interest rates, combined risks and structural changes. Meanwhile, according to the German Federal Statistics Office (Destatis), the annual inflation, 2 % in Germany and June in Germany, increased to 2.2 % in August.
