x

Economy

Survey: Greek Consumers to Spend Less in H1 2021

January 12, 2021

ATHENS — A 70 pct of consumers spend more than 80 pct of its available income on a monthly basis, while a 9.0 pct spends more than 100 pct – practically borrows somehow to cover its needs, a survey by the Association of Business and Retail Sales of Greece (HRBA) said on Tuesday.

The survey, conducted on a sample of 916 consumers in December 2020, showed that consumer sentiment remained negative in the last six months, with low expectations for the next six-month period.

The survey showed that spending on product purchases represented around 31 pct of total spending. The main category of purchases was food/beverage (49 pct up from 41 pct in 2019), followed by restaurant (5.0 pct from 12 pct) and tickets/hotels (1.0 pct from 5.0 pct). On the other hand, electrical/electronics grew to 15 pct from 7.0 pct in 2019, reflecting Black Friday sales.

A 44 pct of consumers expects spending on consumer goods to be lower in the first half of 2021, with only 10 pct expecting higher spending. A 30 pct of consumers expect a decline in spending on services while an 18 pct an increase; higher spending is also expected in fixed spending (bills and taxation).

RELATED

ATHENS - Greece's GDP rose 2.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

NEW YORK – Legendary artist Diamanda Galás recently announced her new album ‘Diamanda Galás In Concert,’ set to be released on June 14 via Intravenal Sound Operations.

ATHENS - Dimitris Melissanidis, the most influential owner in the history of AEK Athens FC, announced on Monday that he will step down, transferring his majority stake to shipowner Marios Iliopoulos.

ATHENS - Greece's Coast Guard will acquire 11 boats for patient transfers to hospitals following an agreement signed on Monday by Maritime Affairs and Insular Policy Minister Christos Stylianides and Norsafe Life-Saving Equipment Hellas General Manager Ioannis Georgiadis.

ATHENS - The digital application "mAIGreece" is now live and available for visitors traveling to and within Greece, as announced on Monday.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.