Germany experiences increased optimism among shoppers in the retail sector.
In more casual lingo, we got some good news from Germany regarding their consumption behavior. The German Trade Association (HDE) in Berlin shared that the HDE Consumption Barometer has consistently gone up for the fifth time in a row and hit its highest level since August 2021. They believe this could point towards a mid-term recovery of private spending in the nation.
People in the land of beer and bratwurst seem to be shifting their focus from saving to spending in the near future, as per their latest intentions. There's an uptick in their purchase plans, but no expansion of their savings plans as of now. This could set the stage for a potential comeback of private consumption this year. Naturally, the initial few months still saw a slowdown due to a high savings rate.
The HDE Consumption Barometer is a monthly sampling of 1,600 individuals, who share their views on purchase intentions, savings intentions, financial situations, and other relevant factors impacting their consumer behavior.
