Home / Knowledge / News / Textiles / Global economic risks spook German consumer optimism
Global economic risks spook German consumer optimism
26
Sep '15
A GfK Consumer Climate study for Germany for September 2015 has found that consumer optimism has fallen in September, much in line with a recent trend. Following a value of 9.9 points in September 2015, the overall indicator is forecasting 9.6 points for October. The three individual indicators, economic and income expectations as well as willingness to buy, are declining.

The three indicators – willingness to buy, income expectations and economic expectations – also suffered losses this month. Economic expectations have declined the most. In light of the global economic risks, numerous flash points, and the recent sharp increase and largely uncontrolled influx of refugees, citizens apparently have increasing doubts regarding further economic development.

The study found that the economic expectations of Germans continue to be on a downward trend. In September, the indicator dropped for the fourth time in a row. The decline of 10.2 points is significantly more pronounced than in August (-1.8 points). With a value of 6.4 points, the economic indicator is still slightly above last year's level of 4.4 points.

The economic concerns of consumers have thus increased noticeably. But this has little to do with general domestic conditions, which remain very good in regard to employment, income and inflation. Rather, it is due to the fact that international conditions have recently become much more turbulent. Economically faltering emerging economies such as China, Brazil, or Russia are likely to continue to adversely affect the export prospects of German companies going forward.

In addition, the international flash points in the Middle East and the Ukraine, as well as the existing sanctions on Russia, apparently continue to demonstrate their effect. The sharp increase in the influx of refugees coming to Europe in recent weeks – particularly to Germany – can be added to this. If this influx continues in this order of magnitude, which must be expected at present, this is likely to have a negative impact on the population's economic expectations. This is also demonstrated in the fact that the number of German citizens that expect rising unemployment in Germany has increased significantly in the last two months.

According to the study, Germans rate their income prospects as less optimistic than in the previous month for the second time in a row. Reasons for this include the gloomy economic outlook on the one hand, and consumers' expectations of rising unemployment in the coming months due to the large influx of refugees on the other hand. The income expectations indicator lost 5.8 points in September and now stands at 47.7 points. In August, the decline was 5.1 points.

Weaker economic outlook and fears of a slowdown in the labour market are also apparently beginning to have an effect on the income indicator.


Must ReadView All

EU renews GSP+ scheme for Pakistan 2 years

Apparel/Garments | On 24th Feb 2018

EU renews GSP+ scheme for Pakistan 2 years

Pakistani exporters can enjoy preferential duties on exports to the...

Surat wary of e-way bills

Textiles | On 24th Feb 2018

Surat wary of e-way bills

There is no respite for Surat’s textile manufacturers and retailers....

Retailers choose sides in Alibaba-Tencent battle in China

Apparel/Garments | On 24th Feb 2018

Retailers choose sides in Alibaba-Tencent battle in China

Two big Chinese firms— Alibaba Group Holding Ltd and Tencent Holdings ...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search