German consumers still in a spending mood in 2014

Picture: Innovation Norway

Picture: Innovation Norway

German consumer optimism has remained high into this year. The most important evidence of this is the rise in the consumer confidence index, which is regularly calculated by the Gesellschaft für Konsumforschung (GfK). The current mood in Germany is at its most positive since 2007. The index climbed 0.5 points to 8.2. German private consumption rose by 0.9 percent in 2013, more than double the rise in the gross domestic product, which rose by 0.4 percent. Quality is playing an increasing role in spending. One in every two Germans (52 percent) would choose the higher quality brand, even if it cost more. This was the result of a study by the market research institute Ipsos. In fact, in the 35 to 49 age bracket, six out of ten Germans would pay more for quality compared to those under 35. The figure for this group is only 46 percent.

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