The consumer confidence index calculated by the the Nuremburg based GfK market research group fell this month to 3.5 from a revised 4.3 in May. This suggests that while Germans may vote in large numbers for a change of government, they are extremely guarded about the possibility that this will produce any notable turn-round in the economic situation, at least in the short term. (Also see this from the FT).
“Despite the announcement that the election will be held in the autumn this year, there are no signs yet of the consumer climate trend reversing,” the Nuremburg-based GfK research group said. “Germans are still uncertain about future financial pressures or relief and do not feel confident about making plans for their future.“