EU consumers worry about the economic outlook

EU confidence.JPGEuropean consumers remain very wary about the future. The slide above, from the monthly CEFIC report, shows that fear of unemployment is THE major concern. Almost half the population, a net balance of 44.3%, worried about this in December (yellow column), only slightly fewer than in November (blue column).

This concern creates a major headwind for overall consumer confidence, which remains negative (left hand data). Equally, more people now expect the economic situation to get worse over the next 12 months (centre columns), with the total now at a net -7.5%. In turn, this makes it likely that their discretionary spending, a key demand driver for many chemical products, will remain weak.

About Paul Hodges

Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry. The aim of this blog is to share ideas about the influences that may shape the chemical industry over the next 12 – 18 months. It will try to look behind today’s headlines, to understand what may happen next in important issues such oil prices, economic growth and the environment. We may also have some fun, investigating a few of the more offbeat events that take place from time to time. Please do join me and share your thoughts. Between us, we will hopefully develop useful insights into the key factors that will drive the industry's future performance.

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