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July 2, 2022
BUSINESS

Gfk: Consumer sentiment is improving

In many European Union countries, consumer sentiment is improving for the first time since the financial and economic crisis, a GfK report informs. The research company shows that the recession in Europe appears to have bottomed out, and the economy in most European countries is beginning to recover from the worst downturn since the Second World War. In many countries, the economic data have for the first time returned to a slight upward trend since the first quarter of this year. However, the consequences of the financial and economic crisis have by no means been overcome as yet. Many consumers are still unsettled and not convinced that the upswing in their respective countries will be sustained. The second major issue for Europeans is inflation. In particular, the increased cost of basic foods and petrol is worrying European consumers. Romania has been on a steep upward trend for the past 12 months, as the economic expectations have continuously climbed from its level of -71 points in June 2010 to a current -26.2 points. Income expectations have also climbed across Europe in the second quarter of 2011. The indicator rose in Germany, Spain, Austria, Romania and Poland.

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