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The reduction in growth curves also leaves private households untouched. As announced by the GfK market research institute, the economic outlook and revenue outlook are down slightly from the previous month. Market research projects a decline in consumer confidence of 0.2 points to 10.4 points for the month of December.
According to GfK researchers, global economic turbulence, such as the US-China trade dispute with Brexit, creates uncertainty about economic expectations. The weaker development of the German economy in the third quarter also left its mark; The gross domestic product declined during this period for the first time in more than three years compared to the previous quarter.
The revenue forecasts are clouded by rising prices. More recently, gasoline and fuel oil in particular have become significantly more expensive and have fueled inflation. This reduces the purchasing power of consumers, explained GfK researchers. "If more money has to be paid to distributors, that is missing for other purchases."
Despite the difficulties, the desire to buy German consumers remained intact. The propensity to buy in November their "excellent level anyway" could still improve slightly, market experts said. As reasons, they pointed to the right conditions, the rising employment numbers eased the fear of a job loss and allowed for "nice revenue growth". A jump made in November, savings.
For its representative studies on the consumer climate, GfK conducts around 2,000 consumer interviews each month. Consumer sentiment is important, especially because private consumption is an important economic factor.
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