Recent recordings of negative consumer sentiment appear to be translating into consumption restraint this December, as our SWIPE index shows a -3.34% year-over-year change for December 2024.

The uncertainty surrounding the upcoming German general election on February 23, 2025, and the anticipation of the approaching Trump era must have contributed to the mix.

It’s worth noting that the 14-day month-to-date data for December 2024 initially showed a +9.9% year-over-year increase. This spike was due to an unusually late Black Friday, which fell on November 29 this year, compared to November 24 in 2023. Consequently, part of the Black Friday spending, including Cyber Monday purchases, was reflected in the early December comparison.

Linke to Paper: The IZA/Fable Swipe Consumption Index