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Tuesday 16th of March 2010
April 29, 2009    

European consumer confidence rises for first time in nearly a year

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by Peter Charalambous
”European

In April, for the first time in 11 months, European economic confidence has increased and Governments are boosting spending and other measures are being introduced in order to minimise the impact of the recession, whilst inflation has slowed.

The confidence report, which is an index of executive and consumer sentiment across the 16 nations, shows that the April reading is above the 65.6 median estimate analysts predicted, at 67.2 up from 64.7 in March.

The report shows that hopes for the economy are now positive and is a further glimmer of hope that the worst of the recession is over.

Furthermore, the fall in retail sales has eased to its slowest pace this month as consumer confidence has improved as a result of the introduction of stimulus packages.

Inflation is also expected to remain low as last month’s 0.6 percent was the lowest in over ten years.

A different survey of industry managers also increased for the first time since May 2008, although the industry is warning that cut backs are being made and capacity is at its lowest level since 1990.

Many are predicting that the UK will be able to beat off recession through the manufacturing industry, while the euro zone is benefiting from low inflation and increasing economic confidence.

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