HDE Consumer Barometer: The economy is raising hopes, but consumers remain in crisis mode
Consumers do not trust the slightly better economic data. A recent study by the HRI shows this. Also, the vast majority of retailers remains pessimistic as a result.
The German economy is sending out initial signals of stabilization - but so far, little of this is reaching consumers. Although hopes for an economic recovery are rising, they are concerned about prices, energy, and jobs. This is what the HDE consumer barometer signals, which fell by 0.59 points to 94.18 points in August. The mood is therefore significantly worse than in the summer of 2023, when the index was good three points higher.
The barometer is calculated monthly by the Handelsblatt Research Institute (HRI) on behalf of the German Retail Association (HDE); it is based on a representative survey of around 1,600 households.
The main reason for the current setback was the significantly increased propensity to save among the consumers surveyed compared to the previous month. This may be so-called fear saving: consumers are building up their reserves because the uncertainty factors are increasing. Three million unemployed: On the one hand, the upcoming heating season threatens to become significantly more expensive due to the sharply increased prices for natural gas and heating oil.
On the other hand, the fear of job loss is growing in large parts of the population. Numerous companies are planning to cut staff or have already separated from employees.
Translated by urgent.news. Machine-written — may contain errors; check the original before relying on it.
