German consumer morale deteriorated sharply heading into April to hit its lowest...
FILE PHOTO: A person is seen inside an empty shopping mall during a partial lockdown in Leverkusen, Germany, March 20, 2020, as the spread of the coronavirus disease continues. REUTERS/Thilo Schmuelgen
The Nuremberg-based GfK institute said its survey of around 2,000 Germans showed consumer sentiment falling to 2.7 points from a revised reading of 8.3 points a month earlier. “In light of the current development, we are withdrawing our consumer forecast of 1 percent growth for 2020,” GfK researcher Rolf Buerkl said.
Consumers’ expectations regarding their personal income as well as the overall economic development decreased sharply, the GfK survey showed. The propensity to buy also deteriorated.
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