Germany is gripped by pessimism and welfare fears, says Die Welt, citing data from a survey of consumer confidence conducted by consulting agency EY, which is in the paper’s exclusive possession.
Due to rising energy costs and the rising cost of living, Germans have become more economical.
The study says: ” There is huge pressure on people to save money because of inflation and the rise in the cost of living.
Nearly one in four out of a thousand respondents evaluated their current financial situation more negatively than ever before. At least 56% of Germans are pessimistic about the future. In the previous year, the figure was only 34%, and before the coronavirus pandemic, values in the region of 20% were common for a long period of time.
” And there seems to be no improvement in sight,” Die Welt concludes.
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