Consumer sentiment in Germany stabilizes via energy measures

The GfK institute poll showed that in December the sentiment of German consumers likely won’t change. It happens thanks to the energy measures of the government which help to keep up citizen’s morale. It is still just above the record low, indicating a reducing consumption.

The institute declared that in November the consumer sentiment index was negative 41,9 and in December it increased to negative 40,2. However, this is lower than the negative 39,6 forecast, which analysts spoke about in the Reuters poll. Negative numbers indicate an annual fall in consumption levels.

GfK consumer expert Rolf Buerkl said that currently constant fears of consumers related to the price growth have decreased a little. It slightly improved the consumer climate. 

Last week, prices portal Verivox reported that the German taxpayers faced the new increase of gas and electricity tariffs. In January, the prices grew by 50%.