Brandenburg Gate in Berlin, Germany

Germany Consumer Confidence December 2020

Germany: Second Covid-19 wave to hit consumer sentiment hard in December

Consumer confidence is expected to dive to minus 6.7 in December from minus 3.2 in November as the second wave of coronavirus and the reintroduction of restrictive measures will hit sentiment. Moreover, the expected value for December is the lowest since July.

The projected drop in the headline reading reflected pessimistic economic expectations and worsening views on income expectations and willingness to buy in November—backward looking data for November was released at the same time and underpins the December sentiment. Views on the economic climate turned pessimistic for the first time since May, due to a renewed lockdown straining consumers’ hopes of an ongoing recovery.

Rolf Bürkl, consumer expert at GfK, added:

“Any hope we still had in early summer of a rapid recovery is now lost. Growing uncertainty has once again led to an increase in propensity to save, another factor which has contributed to the decline in the consumer climate.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest