HDE consumption barometer in August still well below the previous year's level
After the first peak of the corona crisis and the associated historic decline in consumer sentiment, the HDE consumption barometer continued to rise slowly in August. However, the dynamics of the recovery process noticeably decrease. The return of the economy and consumption to pre-crisis levels will take longer than initially expected in many places.
A corresponding picture can be seen in the individual indicators of the consumption barometer: the propensity to buy is increasing, but remains well below the previous year's level. Consumers are expecting an economic upturn for the foreseeable future and their willingness to save is falling. At the same time, however, income expectations are decoupling from the positive development and remain at a stable level, well below the value in August 2019. In the past two months, consumers were little impressed by the increasing tension on the labor market. This could currently change, so that as concerns about one's own job also increase, concerns about one's own income also increase.
The HDE consumption barometer is published monthly and is based on a survey of 2.000 people on their propensity to buy, their propensity to save, their financial situation and other factors relevant to consumption. It does not reflect current consumer behavior, but rather the expected mood in the next three months.
