Slight decline of consumer sentiment in Europe
A study released by GfK shows mixed emotions in Europe regarding the consumer sentiment. In the first quarter of 2018, consumer sentiment in Europe remained at a relatively stable level. In March, however, the GfK Consumer Climate for the 28 EU states showed a slight decline, reaching a level of 20.6 points. In December 2017, it stood at 21.1 points.
The decline was fueled by the pessimism of consumers from the Southern flank in countries such as Spain, Portugal, France, Italy and Greece, where there are no big expectations for a rise in incomes for the next months. The same feeling is present in Austria and Romania, mentioned the study.
Meanwhile, consumers in the Czech Republic, Poland and Belgium have a far more positive view of the economic development of their countries. The same feeling is present in Great Britain and Bulgaria and the optimism pushed up the income expectations index by 1.3 to a level of 16.3 in March.
Germany and the Netherlands are showing a steady level, similar to the last quarter of 2017. For 2018, GfK predicts an increase in private household consumer spending in the European Union from 1.5 to 2 percent in real terms.
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