Latest news with #GfK
Wall Street Journal
4 hours ago
- Business
- Wall Street Journal
German Consumer Confidence Hit by Economic Uncertainty
German consumer sentiment continued to worsen as growing economic uncertainty encouraged shoppers to save rather than spend, according to a monthly survey. The consumer-climate index published Thursday by research groups GfK and the Nuremberg Institute for Market Decisions fell for a second month to minus 21.5 in its forecast for August, 1.2 points down on July. Economists polled by The Wall Street Journal expected the gauge to be stronger at minus 20.0.
Reuters
5 hours ago
- Business
- Reuters
German consumer sentiment falls in August as households opt to save, finds GfK
BERLIN, July 24 (Reuters) - German consumer sentiment is set to decline heading into August, marking the second consecutive drop as households increasingly hold back on spending amid persistent economic uncertainty, a survey showed on Thursday The consumer sentiment index, published by the GfK market research institute and the Nuremberg Institute for Market Decisions (NIM), unexpectedly fell to -21.5 points from -20.3 points the month before. Analysts polled by Reuters forecast a slight rise, to -19.2. "The recovery in consumer sentiment continues to be postponed, because the willingness to save has risen again," reaching its highest value in nearly one and a half years, said NIM consumer analyst Rolf Buerkl. "General uncertainty, the need to be prepared for difficult situations and high prices, especially for food, are the main reasons," he added. Economic expectations took a tumble after five consecutive increases, dropping 10 points to 10.1 points, further dampening hopes for a meaningful recovery in Europe's largest economy this year. Income expectations, however, continued their recovery for the fifth straight month, rising 2.4 points to 15.2 points, which marks a 12-month high for the indicator. NOTE - The survey period was July 3-14, 2025. 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. According to GfK, a one-point change in the indicator corresponds to a year-on-year change of 0.1% in private consumption. 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?" The income expectations sub-index reflects expectations about the development of household finances in the coming 12 months. The additional business cycle expectations index reflects respondents' assessment of the general economic situation over the next 12 months. ($1 = 0.8618 euros)
RTÉ News
3 days ago
- Business
- RTÉ News
UK consumer sentiment suffers first big fall in nearly 3 years, Deloitte says
British consumer sentiment had a marked fall for the first time in nearly three years last month, reflecting increased worries about job security, a Deloitte survey showed today. Deloitte said its consumer confidence index dropped by 2.6 percentage points to 10.4% in the second quarter, its lowest since the first quarter of 2024. The fall was the first since the third quarter of 2022 - when inflation hit a double-digit peak and financial markets reeled from former Prime Minister Liz Truss' budget plans - apart from a 0.2 point decline last year which Deloitte did not view as statistically significant. "Concerns of a slowing labour market have left consumers worried about job security and income growth prospects, while persistent inflation and a high cost of living have negatively impacted sentiment towards personal debt," said Deloitte consumer insight lead Celine Fenech. Businesses have blamed increased employment taxes and a higher minimum wage which took effect in April, as well as planned law changes to make it harder to dismiss new employees, for making them more reluctant to hire. Official data last week showed Britain's unemployment rate rose to 4.7% in the three months to May, its highest since 2021, while inflation picked up to 3.6% in June, the highest since January 2024. The Deloitte figures paint a slightly different picture to Britain's longest-running survey of consumer sentiment, from GfK, which drifted in the second half of last year but rose to its highest since December last month. Deloitte's survey of 3,200 consumers was conducted between June 13 and June 16 and the consumer sentiment index is based on six questions about job security, job opportunities, income, debt, children's welfare, and general health and wellbeing. A separate question about the state of the economy saw a 3.9 percentage point rise in its balance, but it was still 18.4 percentage points lower than a year earlier. "Activity in the UK has slowed in recent months, but an uptick in business confidence seen in the latest Deloitte CFO Survey testifies to continued resilience amid geopolitical uncertainties," Deloitte chief economist Ian Stewart said.
New Straits Times
3 days ago
- Business
- New Straits Times
UK consumer sentiment suffers first big fall in nearly three years, Deloitte says
LONDON: British consumer sentiment had a marked fall for the first time in nearly three years last month, reflecting increased worries about job security, a Deloitte survey showed on Monday. Deloitte said its consumer confidence index dropped by 2.60 percentage points to 10.40 per cent in the second quarter, its lowest since the first quarter of 2024. The fall was the first since the third quarter of 2022 – when inflation hit a double-digit peak and financial markets reeled from former Prime Minister Liz Truss' budget plans – apart from a 0.20 point decline last year which Deloitte did not view as statistically significant. "Concerns of a slowing labour market have left consumers worried about job security and income growth prospects, while persistent inflation and a high cost of living have negatively impacted sentiment towards personal debt," said Deloitte consumer insight lead Celine Fenech. Businesses have blamed increased employment taxes and a higher minimum wage which took effect in April, as well as planned law changes to make it harder to dismiss new employees, for making them more reluctant to hire. Official data last week showed Britain's unemployment rate rose to 4.70 per cent in the three months to May, its highest since 2021, while inflation picked up to 3.60 per cent in June, the highest since January 2024. The Deloitte figures paint a slightly different picture to Britain's longest-running survey of consumer sentiment, from GfK, which drifted in the second half of last year but rose to its highest since December last month. Deloitte's survey of 3,200 consumers was conducted between June 13 and June 16, and the consumer sentiment index is based on six questions about job security, job opportunities, income, debt, children's welfare, and general health and wellbeing. A separate question about the state of the economy saw a 3.90 percentage point rise in its balance, but it was still 18.40 percentage points lower than a year earlier. "Activity in the UK has slowed in recent months, but an uptick in business confidence seen in the latest Deloitte CFO Survey testifies to continued resilience amid geopolitical uncertainties," Deloitte chief economist Ian Stewart said.
The Sun
3 days ago
- Business
- The Sun
UK consumer confidence drops sharply for first time in 3 years
LONDON: British consumer confidence suffered its steepest drop in nearly three years last quarter as concerns over job security and persistent inflation weighed on sentiment, according to a Deloitte survey released on Monday. The consumer confidence index fell by 2.6 percentage points to 10.4% in Q2 2024, the lowest level since early 2024. This marks the first significant decline since Q3 2022, when inflation surged to double digits and financial markets reacted negatively to former Prime Minister Liz Truss's budget plans. Deloitte noted that a minor 0.2-point dip last year was not statistically significant. 'Consumers are increasingly worried about job security and income growth due to signs of a slowing labour market,' said Celine Fenech, Deloitte's consumer insight lead. 'High living costs and inflation have also hurt sentiment around personal debt.' Businesses attribute hiring hesitancy to rising employment taxes, an increased minimum wage since April, and stricter dismissal laws for new employees. Recent official data showed unemployment climbing to 4.7% in May, the highest since 2021, while inflation rose to 3.6% in June. Deloitte's findings contrast with GfK's long-running consumer sentiment survey, which improved last month to its highest since December. Deloitte's survey, conducted among 3,200 consumers between June 13 and 16, measures sentiment across job security, income, debt, and general wellbeing. Despite a 3.9-point rise in economic outlook, the balance remains 18.4 points lower than a year ago. 'The UK economy has slowed, but business confidence remains resilient amid global uncertainties,' said Deloitte chief economist Ian Stewart. - Reuters
