• Germany edition
 
Wary consumers still splash cash at Christmas
Photo: DPA

Wary consumers still splash cash at Christmas

Published: 26 Nov 2012 14:40 GMT+01:00
Updated: 26 Nov 2012 14:40 GMT+01:00

Market research company GfK said its household confidence index was forecast to ease to 5.9 points in December from 6.1 points in November, a statement said.

The falling confidence figures contrast with the news that 91 percent of Germans plan on buying Christmas presents this year. They said they would be coughing up, on average, €285 each – an increase of nine percent on 2011.

Topping the list of gift ideas were books, games and clothes - trends which have remained unchanged for the past few years. CDs and DVDs were a clear favourite among young people as presents.

Yet GfK said that while consumers' expectations picked up slightly from low levels, their assessment of the current economic situation, their willingness to spend and their income expectations all deteriorated.

"German consumers continue to be unnerved by the European debt crisis and the tangible economic slowdown," the statement said.

The headline consumer confidence reading is based on responses from about 2,000 households on their expectations about pay and the economy as a whole in the coming months, as well as their willingness to spend money.

In recent months, consumer confidence in Europe's top economy has been able to defy the crisis, but there are increasing signs that Germany is feeling the pain as its eurozone partners battle with recession.

AFP/The Local/jcw

The Local (news@thelocal.de)

Your comments about this article

Today's headlines
The Local List
Which high school cliche is your city?
Photo: DPA/Shutterstock

Which high school cliche is your city?

This week's Local List takes a leap of imagination and finds German cities fit perfectly into high school cliche categories. Who's the class clown? Who's the nerd? READ  

'German' hand grenades paraded by Isis in Syria
A screen grab from a jihadist video showing the grenades. Photo: DPA

'German' hand grenades paraded by Isis in Syria

The German military was on Wednesday investigating reports that Bundeswehr hand grenades have fallen into the hands of the Islamic State (Isis) terrorist group after a video appearing to show captured weapons surfaced on the Internet. READ  

North braces for storms and floods
Early signs of flooding at the Hamburg fish market on Wednesday morning.

North braces for storms and floods

The remnants of hurricane Gonzalo have drifted across the Atlantic and are now threatening North German cities with flooding, forecasters warned on Wednesday. READ  

Indian schools drop German teaching
Indian pupils enrolled in German classes prepare for Foreign Minister Frank-Walter Steinmeier's visit to their school. Photo: DPA

Indian schools drop German teaching

Thousands of children in India will no longer be taught German after the country's education ministry allowed a contract to lapse. READ  

Syria-bound US teens stopped in Frankfurt
A passenger plane landing at Frankfurt airport. Photo: DPA

Syria-bound US teens stopped in Frankfurt

Three teenage girls from Colorado were arrested by German police at Frankfurt airport after running away from home, reportedly on their way to join Isis in Syria. READ  

Tourists stranded on cable car over Rhine
Tuesday night's rescue operation Photo: DPA

Tourists stranded on cable car over Rhine

Six people, including a family and two American tourists, were left dangling 40 metres in the air over the Rhine for hours late on Tuesday after Cologne's cable car came to a halt. READ  

7:1! Bayern celebrate record in Rome
Arjen Robben celebrates the first goal against AS Roma. Photo: DPA

7:1! Bayern celebrate record in Rome

Bayern Munich were elated on Tuesday night after securing a 7-1 victory against Roma in their group stage Champions League clash. READ  

Nazi U-boat wreck found off US coast
A preserved World War II U-Boat on the beach near Kiel, Germany. Photo: DPA

Nazi U-boat wreck found off US coast

A World War II German U-boat and an American merchant vessel it sank in battle have been found deep in the ocean off the coast of North Carolina, officials said on Tuesday. READ  

Fourth time lucky for free Berlin WiFi?
Coming soon? Photo: DPA

Fourth time lucky for free Berlin WiFi?

Berlin's bid to set up a free city-wide wireless network has so far come to nothing. But city bosses are now trying for a fourth time - and hope to have the project running next year. READ  

Opinion
Do German unions have too much power?
Lufthansa passengers rush to change their flights at Frankfurt Airport on Monday. Photo: DPA

Do German unions have too much power?

Germany's pilots and train drivers are taking it in turns to bring the country to a standstill with strikes that have cost the economy tens of millions of euros in the last two weeks. Are unions abusing their power or standing up for their rights? READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Sponsored Article
An international school unlike any other : School on the Rhine
Photo: Fitzpatrick family
Society
'We still don't know what happened to Matthew'
Photo: Mariana Schroeder
Munich
Special Report: Hope and chaos at Munich's refugee shelters
Photo: DPA
Berlin
Robbers blow up Berlin bank
Photo: DPA
Culture
Can you top our history quiz leaderboard?
Photo: Facebook
Society
German motorcycle gang joins Isis fight
Photo: DPA
Politics
UKIP ‘seeks EU pact’ with German satirical party
Photo: DPA
Gallery
PHOTOS: World's biggest erotic fair opens in Berlin
Photo: DPA/Shutterstock
Gallery
11 things Germans are afraid of...
Photo: DPA
Gallery
The ten richest people in Germany
Photo: DPA
Business & Money
JobTalk: All you need to know about working in Germany
National
Share news tips with The Local Germany
Sponsored Article
Bilingual education from nursery to graduation at Phorms
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Latest news from The Local in Sweden

More news from Sweden at thelocal.se

3,490
jobs available
Toytown Germany
Germany's English-speaking crowd