German consumer sentiment is set to barely change in December as government energy measures help stabilize morale at a level that is just above a record low set two months earlier and still signals declining consumption, a GfK institute survey showed on Friday.
The institute said its consumer sentiment index rose to negative 40.2 heading into December from a reading of negative 41.9 in November, and below forecasts from analysts polled by Reuters of negative 39.6.A negative reading suggest a year-on-year drop in private consumption.
While a one-off gas relief payment for households in December and a cap on gas and electricity prices next year, the situation remains tense and there will not be any significant, sustainable recovery in morale as long as energy supply doubts remain, added Buerkl. An indicator reading above zero signals year-on-year growth in private consumption. A value below zero indicates a drop compared with the same period a year earlier.
The "willingness to buy" indicator represents the balance between positive and negative responses to the question: "Do you think now is a good time to buy major items?"
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