The income of the population in 2020 has decreased. Cause – job loss, shorter working hours. Economic Analyst Thorsten Schmidt from RWI – The Leibniz Institute for Economic Research believes that in 2021 “the majority of the country’s inhabitants will again have a little more money in their wallets than in 2020.” However, this increase will not be particularly noticeable. It will probably not be possible to reach the level before the crisis in the near future.
The Consolidation of Consumer Research (GfK), having simulated the situation, believes that in 2021 the purchasing power of German residents will increase by almost 2 percent. If you subtract from the expected rise in inflation, the real growth in consumer power should be well below one percent. However, no further drop is expected.
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