Latest data released by GfK - 26 November 2020

The tighter restrictions in Germany continues to weigh on consumer morale, with the headline reading dropping a little more than estimates.

GfK notes that while retail shops had been kept open so far, the closure of restaurants, bars and hotels clouded consumers' mood. Adding that:

"The hopes for a rapid recovery that arose in early summer have definitely been dashed. Only a noticeable decrease in infections and a relaxation of restrictions will bring more optimism again."