The year 2024 starts off very disappointingly for consumer sentiment in Germany: both economic and income expectations as well as the willingness to buy are showing noticeable declines. Consumer sentiment drops sharply after rising in the previous month. In the forecast for February 2024, the Consumer Climate falls to -29.7 points – a decline of 4.3 points compared to the previous month (revised to -25.4 points). These are the results of the GfK Consumer Climate powered by NIM for January 2024, which has been published jointly by GfK and the Nuremberg Institute for Market Decisions (NIM), founder of GfK, since October 2023
EU politics
Cas Mudde: Europe’s centre-right is on the wrong track with ‘good populism’
In the Austrian and Dutch elections, it’s debatable how much ground mainstream parties won by flirting with nativism. Swinging to the right carries long-term risks Read here
Austerity
Bill Mitchell – US Congress to consider a vote on condemning MMT – signals progress
When the US Far Right and liberal economists start panicking like this, you are obviously on the right track. Read here
Economics
Bill Mitchell: Latest data – largest quarterly output decline in recorded US history – but Europe is worse
Unfortunately mostly US and little Europe. But as the US is faring better than Europe it is still a bellwether and might provide some insights with regard to the EU. Read here
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