Pessimism on the rise in April-June

Pessimism and fear for the future have replaced optimism and hope, from the first to the second quarter of the year as the small recovery in consumption was followed by spending containment, and disposable incomes started dipping again, according to a Nielsen survey on consumer confidence.

From 65 points in Q1, the consumer confidence index dropped to 53 points in Q2, recording the biggest decline among the 60 countries covered by the Nielsen survey.

The share of the people who said that after covering their basic needs they have no money left to spend rose from 28 percent in the January-March period to 38 percent in the April-to-June period. Two in five Greeks (40 percent) fear they may lose their jobs, against 22 percent in Europe, while 41 percent worry about the course of the economy, against 20 percent in Europe.