Consumer confidence rises in Europe at the highest level since 2008 – SPIEGEL ONLINE

Despite refugee crisis, threat of terrorism and the threat of Proposed referendum on United Kingdom membership of the European Union, the mood of European consumers has improved on average. Consumer confidence in the EU increased in the second quarter by 4.1 points to 13.1 meters, as GfK market research company announced in Nuremberg. That’s the highest since March 2008. At the time, the indicator had stood at 16.8 points

At the beginning of the year, the consumer mood had deteriorated slightly -. After several improvements before. GfK surveyed monthly 40,000 people in 28 EU countries for the study commissioned by the EU. The vote of the British for leaving the EU has not yet affected the survey because they had already been completed when the vote on 23 June. It is to be expected now that transfer the uncertainty on the financial markets on the consumer.

In the past three months, especially country-specific topics have determined the headlines in the EU countries – such as the elections in Austria and Spain, the Russian sanctions, negotiations on new EU payments to Greece and refugee policy , Therefore, economic and income expectations and the propensity developed depending on the country.

In the UK, economic expectations continued to fall. “The mood of consumers thus reflects the economic development of the country contradict directly.” The Italians believed because of the continuing difficult economic situation and high numbers of refugees not to a speedy recovery.

And the Greeks were hit by the aftermath of the financial crisis still hard. Your economic expectations was indeed increased recently. “The value of minus 44.8 points allows for optimism but no room.” The propensity to remain extremely poor: “The Greeks are barely able to even buy the necessary daily things.”

In France, the expectation has to the economy improved somewhat. To a sustainable recovery, the French, however, did not believe now. The Spanish consumers expect in the coming months only a moderately growing economy

The Germans on the other hand expect a significant upturn. Your economic expectations increased by 17.5 points and income expectations reached in June with 59.6 meters even its highest level since reunification. Reasons include rising employment, high wage settlements in some sectors and a significant increase in pensions from July 1.