Consumption: Only just under half of Germans can survive a loss of income for three months

If regular household income ceases, the financial reserves of many people in Germany will only last for a few weeks. This is shown by a representative survey commissioned by Debeka Insurance. According to this, only 51 percent of adult citizens can cover their current expenses for at least three months. 22 percent only last for a month, while almost a quarter (23 percent) could also bridge half a year. Pensioners were not taken into account in this question.

Individual bills also overwhelmed many households, according to the results. According to their own assessment, 37 percent of those surveyed would not be able to pay an unexpected expense of 3,000 euros in the short term without getting into financial difficulties. Younger people between the ages of 18 and 29 in particular do not feel able to do this. However, only about one in seven would be prepared to invest in retirement provision if necessary.

According to the study, when faced with financial pressure, most people first respond by saving on their own consumption: 54 percent cite reducing expenses as a measure. Long-term security, however, remains largely untouched. Only 14 percent would reduce their savings contributions or pension provision if they were under greater financial strain.

Hardly any relief from fuel discounts

Meanwhile, a consumer climate study by the Nuremberg institutes GfK and NIM shows weak consumer sentiment in the country. Consumers' propensity to save falls only slightly, while their propensity to purchase – i.e. the willingness to spend more on consumption – also declines. According to the study, the re-introduced fuel discount did not significantly improve consumers' overall situation.

“Overall, consumer sentiment remains significantly below the previous year’s level,” say the Nuremberg researchers. After all, expectations regarding the economy have increased - economic researchers have recently been predicting growth again. “Consumers are becoming increasingly optimistic about economic developments, but when they look into their own wallets, skepticism continues to predominate,” said NIM consumer expert Rolf Bürkl about the current consumer climate study for November. It has been collected regularly since 1974.