Greek consumer confidence up in Q3, Nielsen report

Greek consumer confidence index rose to 84 points in the third quarter of 2019, moving closer to the European index of 88 points for the first time ever, Nielsen said in a report released on Tuesday.

The Greek consumer confidence index rose 12 points in the third quarter compared with the second quarter, with all paremeters recording an improvement. Greek consumers were significantly more optimistic over their personal finances in the next 12 months, with the relative index rising 13 percentage points (46 pct) compared with the second quarter. A 56 pct of Greeks still doubted whether the country will manage to exit the economic crisis in the next 12 months, down from a 72 pct reading recorded in the same period last year, while a 68 pct of Greeks still believed that the country was in an economic recession.

Greece ranks top among European countries in job insecurity, with a 31 pct of Greeks concerned over the economy and labour, while a 22 pct were concerned over their personal health.

Nielsen said that a 63 pct of Greeks still tried to cut household expenses (entertainment and clothing), while a 54 pct of Greeks said they sought cheaper consumer products.