BERLIN — After economic uncertainty last fall and a quick recovery towards the end the year, German private consumption is expected to keep growing in 2015.
According to the annual forecasts of Nuremberg-based market research firm GfK, German consumption is expected to grow by 1.5 per cent in real terms in 2015, equaling GDP growth expectations for 2015. Compared to 2014, German growth is to increase by 0.4 per cent.
According to GFK’s chief executive officer Matthias Hartmann, because of low interest rates, savings do not pay and consumers will spend, though not necessarily on fashions. “Germans want to spent on travels, renovations and real estate,” he said.
For the EU region, GFK expects a growth of 1 to 1.5 per cent, adjusted for inflation, for 2015.