German Consumer Sentiment Improves But Remains Low
02 June 2020 - 11:13PM
Dow Jones News
By Maria Martinez
German consumer sentiment brightened slightly, according to June
figures from German trade association HDE, but remains at a low
level due to the continuing effects of the coronavirus.
"Just as the restrictions on public life were incrementally
loosened from week to week, the mood of consumers also brightened
up a bit," the HDE said.
After its historic low in May of 90.53 the trade association's
consumer barometer rose to 93.51 in June, showing "a slight upward
trend," HDE said. However, this is the second-worst value since the
barometer started in 2016.
"The outlook for the next few weeks is marked by great
uncertainties," HDE added.
According to the data, consumers' propensity to buy rose
slightly but it is still at a significant lower level than in the
previous year.
"German shoppers are still far from being in a good consumer
mood," HDE said.
Data show an increasing propensity to save, as consumers look
skeptical at medium-term developments and are building up a
financial cushion.
The HDE consumption barometer, published monthly, surveys 2,000
people on their propensity to save and make purchases, their
financial situation and other relevant factors. It doesn't show
current consumer behavior, rather the expected behavior in the
coming three months.
Write to Maria Martinez at maria.martinez@wsj.com
(END) Dow Jones Newswires
June 02, 2020 08:58 ET (12:58 GMT)
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