German Consumer Sector Offers Low Growth

German consumers are characterised by high saving rates and extreme price sensitivity and this, combined with the rapid rise of the discount sales channel, has led to low growth in the food and drink sector over the last ten years. In 2006 and 2007 there were signs this could start to change, as demand for Germany's technologically advanced exports in rapidly industrialising emerging markets pushed the country's rate of GDP growth much higher than the recent average; this economic performance fed into consumer confidence and pushed up spending. However, this was short lived, as the global financial crisis led to

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