Consumer confidence has returned to the levels of early 2013, rising slightly relative to the previous month. In general, the relevant index has shown little movement during the current year. The reverting of optimism about the future of the economy to the levels of last October is the most important development, relative to November. Also noteworthy is the improvement in expectations regarding the course of inflation.
Consumer confidence shows a marginal decline relative to October. The slight deterioration seen this month is due to a sharp downturn in citizens’ optimism about the future of the Greek economy. Generally speaking, the movement of the relevant index since the beginning of the current year leads to the conclusion that the recovery observed in January 2013 lacks sufficient momentum to further improve consumer sentiment.
The redistribution of income which has taken place over the past four years, in combination with the rapid increase in taxation during the same period, are vividly reflected in four indices that are used to measure the economic climate
Consumer confidence shows little change relative to the preceding month. The relevant index in October confirms the conclusion drawn from previous ‘waves’, that the vigorous rebound of consumer confidence seen since the beginning of the year has indeed taken hold.
Based on a telephone opinion survey, with a general population sample of 1,034 adults (18+) from across Greece. The survey was carried out: 7-9/10/2013. Analysis by YIANNIS MAVRIS* The broad majority of Greek public opinion on the one hand endorse the pre-trial detention of the leader of Golden Dawn Nikos Michaloliakos (7 in 10 citizens, …
Consumer confidence showed an improvement relative to July. The rise observed in the current month may to some extent be due to seasonal variation of the respective index. In any event, the recovery seen since the beginning of the year appears to have taken hold, despite the sharp fluctuations caused by major political and economic shocks (developments in Cyprus, closure of state broadcaster ERT, withdrawal of Democratic Left from the three-party coalition government, etc.). But consumer confidence still remains at extremely low levels and citizens’ expectations for the future continue to be negative.
Source: Public Issue, Public Opinion Polls Data Base, 2001-2013, Nationwide general population telephone surveys with a sample of 1,000 individuals. Consequences on Greece’s interests from Angela Merkel’s potential re-election Popularity of German Chancellor Angela Merkel Popularity of Germany Download pdf
Consumer confidence deteriorated significantly in July relative to the previous month. The decline recorded in the current month is most probably due to recent political developments (closure of state broadcaster ERT, breakup of the ruling three-party coalition, government reshuffle), confirming the strong interaction between the consumer and the political climate. As things stand, it is not possible to forecast the course of consumer confidence, that is, whether the deterioration will prove to be conjunctural in nature or whether it marks the beginning of a reversal of the uptrend seen in recent months.