European consumer remains upbeat

Research firm GfK’s recent study shows that the European consumer trust keeps growing, but there are vast differences depending on the country.

Macron effect

“One of the most obvious second quarter trends is the clearly visible positive effect Macron had on the French consumer trust. On the other side of the Channel, the British consumer is highly sceptic about the Brexit negotiations, reflected in its weaker score”, GfK consumer expert Rolf Bürkl said.

After a long period of insecurity, the Spanish and Portuguese have shown an uptick in its economic resurgence over the past few quarters and that feeling has persisted in its consumer trust in the past quarter.

However, consumer trust has remained rather low in several Eastern European countries like Poland. Citizens in Italy and Greece also have low expectations.

Mixed plate in Belgium

Belgian consumers have higher economic expectations compared to last year, but when it comes to wages, their expectations have dropped compared to a mere quarter ago. Compared to 2016, their major purchase forecast have remained stable, but compared to 2017’s first quarter, it has slipped slightly.