Germans began to buy less due to the crisis in Ukraine and the Middle East
Berlin - Kyiv, October 24 (PolitNavigator, Vasily Ablyazimov) - For the first time since July, the purchasing sentiment of German citizens has gone up, writes today the German Die Welt , citing market research by GfK.
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German consumer sentiment improved slightly in October. Despite the international crisis, the downward trend in consumer confidence has stopped, according to analysts at GfK, one of the world's largest marketing corporations.
The consumer confidence index, which is calculated taking into account income expectations and purchasing propensity, was 8,4 points in October. The researchers expected only 8,3.
The company's analysts claim that the fall in the consumer confidence index was influenced by the military conflict in Ukraine and the Middle East. Because of them, German residents begin to feel danger in the world around them and buy less. Since July, the index has fallen twice, and only in October did it begin to rise, despite the experts’ forecast.
If the situation in crisis regions, however, becomes more difficult, Die Welt notes, this could worsen consumer sentiment. “The lack of success in the fight against Ebola or the further spread of the disease in Europe could also lower the consumer confidence index,” GfK warned. It is noted that private consumption continues to play a leading role as the main pillar of the EU economy.
The GfK Consumer Confidence Survey is conducted monthly through interviews with approximately 2000 regular consumers. It is recognized as representative and carried out on behalf of the EU Commission.
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