Fear of losing a job is an additional burden
The partial lockdown weighs heavily on consumer sentiment in Germany in the pre-Christmas period, which is particularly popular for retailers. The consumption barometer published by GfK signals a decline of 3.5 points to minus 6.7 points for December. That is the lowest level since July.
Experts polled by Reuters had expected a value of minus 5.0. With a view to their personal future, almost half of the citizens are now “very or rather very worried” about the corona crisis, as the market researchers found.
“The Lockdown light noticeably dampened consumer sentiment in November,” said GfK expert Rolf Bürkl. The retail stores remained open. “But the renewed closure of the hotel, catering and event industries, as well as tourism, which is still on the ground, are having a hard time affecting the consumer climate.” The fear of job loss as a result of possible rising bankruptcy figures also affects the propensity to consume.
