Economic Struggles Lead Germans to Curb Spending

Despite falling inflation and rising incomes, German consumers remain cautious amid economic uncertainty.

A Yougov survey reveals that 35% of Germans frequently worry about their financial situation, down from 50% last year.
Germany faces a second consecutive year of economic contraction, with the GDP expected to shrink by 0.3% in 2024.
Many Germans are limiting spending on luxury goods, dining, and entertainment, with 37% buying only essentials.
The decline in inflation to 1.6% in September has not alleviated consumer concerns about the economic outlook.
Younger Germans express more financial anxiety, while older demographics are more pessimistic about future economic recovery.