Berlin (Reuters) – The prospect of rising incomes boosted the buying mood in Germany. The barometer of consumer sentiment in May increased by 0.1 to 10.1 meters – that’s the highest level since October 2001, as the Nuremberg market researcher GfK announced on Thursday to their survey of 2000 consumers.
Experts had even expected 10.2 points. For better mood especially hope to provide significant wage increases: The barometer of income expectations rose by two 55.1 meter. This is the highest ever detected by GfK level since reunification.
The low inflation plays a key role, says GfK expert Rolf Bürkl: “There is more real in purses.” This also expect the leading economic research institutes in their spring report – particularly because of the drop in oil prices. Discounted Heating and refueling lets the Germans in this year thus about eight billion euros more in their pockets. The decline in oil prices dampen inflation: 2015 is expected to be only 0.5 percent inflation. As a result, the purchasing power puts noticeably since the wage growth is expected to be well above the rate of inflation. The Federal Bank speaks of an exceptionally good consumer sentiment, which is likely to continue for some time.
However, the propensity of consumers eased to buy cars, furniture or other expensive things. The GfK barometer of the propensity fell by 4.7 to 58.3 meters. Nevertheless, the researchers are observing a continued high propensity to consume. By comparison, in 2006, reached record high is 64.4 points, within sight. At the same time, consumers do not look quite so optimistic on the economy. According Bürkls “the constant back and forth about Greece’s future in Europe now but initial impact with consumers’ clearly shows.
© Thomson Reuters 2015 All rights reserved.