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

The continuation of the pandemic continues to raise hurdles in forecasting the short-term trend of the country's Gross Domestic Product, but based on available data the Greek GDP is expected to rise by 5,2% in the first half of 2022 (7% in the first quarter and 3.

Top Stories

Society

ATHENS — A severe weather front has hit Greece, with below-freezing temperatures and snowfall in many parts of the country, including the capital Athens and many Aegean islands.

Events

BROOMALL, PA – The community of St Luke in Broomall held the annual cutting of the Vasilopita event on January 23.

Society

ATHENS – Women in Greece – those who survive – are coming out to report domestic violence that has become endemic in the county, with 5,705 cases in the first 10 months of 2021, when there was a rash of femicide.

Video

Biden Caught on Hot Mic Swearing at Fox News Reporter

WASHINGTON — President Joe Biden responded to a question about inflation by calling a Fox News reporter a vulgarity.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

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