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14.6.2010 European Consumers Grow More Confident

Many consumers in Europe are now more confident about the economy and their own purchasing power, according to a new study. GfK, the research firm, surveyed 13,200 adults in 11 countries across the region, including France, Germany, Italy, Russia, Spain, Sweden and the UK.

It reported that unemployment was the issue causing the most anxiety in eight of the nations assessed. Some 43% of the sample said they were concerned about this matter, an increase of 4% from a similar poll undertaken last year.

Three-quarters of the panel in Spain, two-thirds of their counterparts in Germany and a majority of respondents in France also had a negative outlook regarding the condition of the labor market. Elsewhere, 40% of participants in Austria and Poland said the climate was improving in this area, falling to 33% in Sweden and Belgium, 16% in the UK and 8% in the Netherlands.

Inflation and declining purchasing power took second place among the subjects generating widespread unease, although they were only mentioned by 18% of contributors. This problem was a particular cause of anxiety in Russia, where it was cited by 33% of the sample, perhaps unsurprisingly given the domestic rate of inflation stood at 11.7% for 2009.

"What is remarkable this year is that the number of concerns expressed has rocketed," Raimund Wildner, the managing director and vice chairman of the GfK Association, said.

B.L. 14.6.2010