The Nuremberg-based GfK market research institute said its consumer sentiment index, based on a survey of about 2,000 Germans, fell to -6.8 points heading into January, against a revised -1.8 points a month earlier.
The Berlin-based DIW research institute said it expects the country’s economy to shrink in the last quarter of the year.industry continues to suffer from supply shortagesThe Ifo economic institute this month said it expected Germany’s economic output to shrink by 0.5% on the quarter over October to December and stagnate from January to March.
GfK economist Rolf Buerkl said the high infection rates of the fourth coronavirus wave, triggered by the Delta variant, has already resulted in restrictions for retailers and service providers this month. The renewed restrictions have led to temporary job cuts in hospitality, tourism, as well as leisure and entertainment, Ifo economist Klaus Wohlrabe said.