Economic Expectations for Europe Strongly Influenced by Greek Crisis

PR61157

NUREMBERG, Germany, Jul. 15 /PRN=KYODO JBN/ --

   - Results of GfK Consumer Climate Europe for the second quarter of 2015

    The lengthy negotiations between Greece and its creditors have clearly

influenced the mood of consumers in most European countries in the second

quarter of this year. Particularly in Eastern European countries, however, the

crisis between Russia and the Ukraine is also playing a major role.

Nevertheless, the GfK Consumer Climate EU28 has increased by 1 point overall

since March, to 10.8 points. These are results for the GfK Consumer Climate for

Europe from 15 European countries.

    (Photo: http://photos.prnewswire.com/prnh/20150710/234911 )

    The Greek crisis largely set the mood for European consumers in the second

quarter of this year, and the economic expectations in several individual

countries has stagnated or decreased as a result. At the time of the poll,

which was carried out in the first two weeks of June, the negotiations between

Greece and its creditors had increasingly come to a head. The recent climax

(the projected failure of the negotiations, potential closure of Greek banks,

the referendum and then the last minute agreed deal) is therefore not reflected

in this survey. It is assumed that the mood of the people in Europe, primarily

within the Monetary Union, may deteriorate even more significantly over the

summer, depending on the Greek outcome. This applies, in particular, to

countries like Germany, Italy, France, and Spain, which either bear a high

share of Greece's debts or are also struggling with a difficult economic

situation.

    The developments of the income expectations as well as the propensity to

buy vary among the different countries. Country-specific influences in the

second quarter were stronger here than the possible effects of Greece's exit

from the European Monetary Union. Nevertheless, the GfK Consumer Climate EU28

has increased by 1 point overall since March to 10.8 for the second quarter.

    More information

    For more information and full results for all countries, please visit:

http://www.gfk.com or contact press@gfk.com.

    About the study

    The results of the GfK Consumer Climate Europe are taken from the consumer

poll that is conducted on behalf of the EU Commission in all countries of the

European Union. Approximately 40,000 persons are surveyed in the 28 countries

every month. These respondents are representative of the adult population of

the EU.

    Press Contact:

    Ursula Fleischmann, PR

    +49-911-395-4440

    press@gfk.com;

    Stefan Gerhardt, Global PR

    +49-911-395-4440

    press@gfk.com

    SOURCE: GfK