For this reason, a large share of their additional savings is unlikely to be used quickly for catch-up spending, and it will instead be used to build up wealth over a longer period of time.
At present, it therefore seems improbable that Germany will see a very large surge in demand that would exceed the normal level of capacity utilisation in its economy this year. In this context, it is uncertain whether and to what extent potential pent-up demand could lead to price increases as well.