According to Germany's flagship newspaper Die Welt, Germans are gripped by pessimism amid fears for their well-being.
A recent survey shows that thrifty Germans with euro deposits in their bank account are extremely worried about running out of funds. The residents of Europe's largest economy are increasingly fretful over their future well-being. Experts came to the conclusion after conducting a consumer confidence study, Die Welt noted. Rising power and gasoline prices as well as painfully high living costs have forced citizens to start saving. However, even this does not prevent them from growing inflationary pressures.
Almost one in four of a thousand respondents admits a dramatic deterioration in financial conditions. The poll has found that at least 56% of Germans are pessimistic about their future. A year ago, that figure was only 34%. Before the start of the pandemic, it stood at around 20%. What is worse, no changes for the better are foreseen, the publication summed up.
As reported earlier, the majority of senior citizens in Germany aged 65 and over were at high risk of poverty. The study showed that around one in six Germans was facing the prospect of being poor.
