Wiesbaden The corona pandemic has had a significant impact on consumer spending in private households in Germany. With an average of 2507 euros, monthly consumer spending in 2020 fell by three percent compared to 2019, as the Federal Statistical Office (Destatis) announced on Monday.
The largest decrease was spent on catering and accommodation services. Households spent an average of 102 euros per month on this in 2020, 35 percent less than in 2019 (157 euros).
The second largest drop in expenditure was in the area of education. Here, spending in 2020 was 15 euros per month, almost 29 percent lower than in the previous year (21 euros).
However, households spent more on certain products and services – such as food, beverages and tobacco products. On average, the expenditures for this increased by nine percent in 2020 compared to 2019. There was an average increase of four percent for housing, energy and home maintenance.
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The largest increase in spending was in the area of interior furnishings, household appliances and objects. Households spent an average of 160 euros per month on this in 2020, around 13 percent more than in 2019 (141 euros).
Private consumption is an important pillar of the German economy. Economists fear that the increased number of infections could dampen consumption again because consumers, for example, refrain from going to restaurants for fear of infection. In addition, there are stricter rules to combat the pandemic again in the first federal states.
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