Global EditionASIA 中文雙語Fran?ais
    World
    Home / World / Europe

    Germany's consumer confidence to remain subdued

    By JONATHAN POWELL in London | China Daily Global | Updated: 2024-12-20 10:21
    Share
    Share - WeChat
    FILE PHOTO: Workers of Europe's largest carmaker Volkswagen AG gather during pay-rise protests on the grounds of VW's main plant in Wolfsburg, Germany, December 2, 2024. [Photo/Agencies]

    A survey released on Thursday showed consumer confidence in Germany is projected to improve slightly in early 2025, though overall sentiment remains subdued due to ongoing concerns about elevated food and energy costs, along with employment uncertainties.

    The consumer sentiment index, published by German market research company GfK and the Nuremberg Institute for Market Decisions, or NIM, revealed an unexpected improvement, climbing to — 21.3 points for January, from December's revised figure of-23.1 points.

    The GfK index predicts consumer spending trends for the coming month, with readings below zero indicating a decline in private consumption compared to the previous year. Each point change in the indicator represents a shift of 0.1 percent in consumer spending.

    While the reading exceeded analysts' expectations of — 22.5, GfK noted that this improvement only partially offset previous declines, with sentiment remaining at a very low level amid stagnation dating back to mid-year, reported Reuters.

    "A sustained recovery in consumer sentiment is not yet in sight, as consumer uncertainty is still too high. The main reason is high food and energy prices," said NIM analyst Rolf Buerkl. "In addition, concerns about job security are growing in many sectors."

    According to the latest monthly survey from Munich's ifo Institute, a leading German economic research organization, business confidence has deteriorated more than expected this month.

    Adding to the gloomy outlook, major corporations, including Volkswagen, have implemented production cuts and cost-reduction measures, sparking concerns about potential job cuts.

    A February snap election brings further uncertainty at a time when Europe's largest economy faces the prospect of a second straight year of economic decline in 2024, with growth rates trailing other eurozone nations.

    A separate survey released on Thursday by Germany's Chamber of Commerce and Industry, or DIHK, revealed that fewer companies are struggling with labor shortages compared to last year, with 43 percent of enterprises reporting hiring difficulties, down from 50 percent in 2022.

    While the weakening economy is dampening overall employment demand, with unemployment rising to 2.86 million in November and forecast to reach 6 percent in 2024, from 5.7 percent in 2023, the DIHK report highlights that skilled worker shortages remain a persistent issue.

    Many companies continue to face difficulties finding suitable employees due to a qualification mismatch between available workers and job requirements, according to the report.

    Germany's parliament ended former chancellor Olaf Scholz's coalition through a no-confidence vote on Monday, setting the stage for a Feb 23 election. The coalition collapsed last month when the pro-market Free Democratic Party withdrew over a debt dispute, leaving Scholz's Social Democratic Party, or SPD, and the Green Party without a parliamentary majority.

    Recent opinion polls show the center-right Christian Democratic Union/Christian Social Union, or CDU/CSU, alliance maintaining a 10-point lead over Scholz's SPD, which ranks behind both the CDU/CSU and the far-right Alternative for Germany with the Greens in fourth place.

    jonathan@mail.chinadailyuk.com

    Most Viewed in 24 Hours
    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    精品无码国产一区二区三区AV | 中文精品无码中文字幕无码专区| 亚洲国产精品狼友中文久久久| 毛片无码免费无码播放| 中文字幕日韩精品有码视频| 日韩一本之道一区中文字幕| 国产精品无码AV一区二区三区 | 亚洲精品无码专区久久久| 久久精品中文字幕无码绿巨人| 69ZXX少妇内射无码| 无码人妻视频一区二区三区| 中文字幕无码成人免费视频| 日韩av无码中文字幕| 亚洲国产精品无码久久九九| 国产精品无码无在线观看| 亚洲AV无码一区东京热| 精品无码一区二区三区在线| 日韩精品一区二区三区中文字幕| 亚洲中文字幕无码一区二区三区 | 97无码免费人妻超| 色窝窝无码一区二区三区色欲 | 无码A级毛片免费视频内谢| 精品无码免费专区毛片| 亚洲国产中文v高清在线观看| 痴汉中文字幕视频一区| 波多野结衣在线aⅴ中文字幕不卡| 中文字幕无码av激情不卡久久| 99久久国产热无码精品免费久久久久 | 精品三级AV无码一区| 无码人妻精品一区二区三区东京热 | 亚洲AV无码一区二区三区性色| 中文字幕无码AV波多野吉衣| 久久亚洲精品无码VA大香大香 | 无码永久免费AV网站| 亚洲AV无码国产丝袜在线观看| 亚洲国产精品无码专区影院| 亚洲AV无码日韩AV无码导航| 精品无码一区二区三区爱欲| 国产精品无码不卡一区二区三区| 免费无码AV一区二区| 中文字幕无码一区二区免费|