Latest data released by GfK - 28 August 2020
- Prior -0.3; revised to -0.2
This isn't really a confident sign as consumer morale dips, casting some doubts about the strength of the economic recovery in general. GfK says that the recent rise in virus cases and fears of another lockdown are causing uncertainty among consumers. Adding that:
"The VAT cut that came into force on 1 July is supporting the propensity to consume, but it's currently not yet giving any stronger impulses. Consumers are still expecting that the German economy can work its way out of the worst recession since the end of the war."
