Posts Tagged ‘Germany’

Frugal German Shoppers Get More Frugal

The survey in Germany, performed by the magazine Stern, shows that one in three Germans will spend less money this year on Christmas gifts than in previous years.

The numbers are an indicator that the financial crisis is hitting hard in Europe: Germans are considered frugal shoppers already.

On the other hand, a little bit over half of the Germans set it there will spend about the same amount of money or more than in 2007.

Taking the average of the poll most people will spend around 300 euro (around US$375).

Still, a good quarter of those surveyed said that they will spend hundred Euro or less.

Germany is considered the world’s third-biggest economy while numbers released last week show that Germany has slipped into a recession for the first time in five years.