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30.12.2003 – 10:50

GfK SE

Christmas's economic impact leaves German consumers cold
Findings of the GfK consumer climate survey in December 2003

Nuremberg, Germany (ots)

Five percent less Christmas business
than in the previous year - the consumer's mood was not as up in
December as trade had been hoping for up until the end of November.
GfK's consumer climate study confirmed this in December. In the last
month of the year 2003 the more positive mood of the consumer in
November had again already come to an end.
Whilst financial analysts (ZEW) and companies (ifo) stand by their
positive assessment of the economic development at the year end, it
must be said that the buoyant mood of November did not spill over
into December to quite the same extent, though can be considered
comparable. However, personal expectations on the subject of personal
income developments have yet again been clouded. Moreover, their
propensity to buy, which had clearly increased in November, dropped
again to October's level.
However, it can be assumed that the uncertainty of the German
consumer regarding future tax burdens and relief also played a part
in the stagnation of the consumer climate. Now that the Federal
Government and the opposition have managed to reach a decision
regarding the tax reform, the prospect has improved of there being a
slight upward trend after a month of standstill. However, a
fundamental and continuing improvement is only to be expected if
there are more positive signs from the job market.
ots Original Text Service: GfK
Internet: http://www.presseportal.de
Further information:
Dr. Ulrike Schoeneberg, 
Tel.: +49 911 395 2645
Complete press release: www.gfk.com

Original content of: GfK SE, transmitted by news aktuell

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