Why most Europeans think that their standard of living will fall in 2024 | DW News

Europeans are becoming increasingly pessimistic about their economic Outlook a survey of EU citizens shows seven out of 10 think their standard of living will fall in the coming year but the block has been more resilient than many expected DW’s Christine woodwire reports from Brussels the lights are twinkling but

For many life in Europe feels like it’s losing its shine with the inflation everything got got higher like the price of for a living in the center he is like at least 500 bucks it’s so hard if I want to get some great food I know that I have to

Invest more than I did before so that’s something I’m a bit concerned about because I still want to have high standards in term of food definitely feels like the standard of living is getting worse I live in the UK but we have a lot of friends across Europe and

We hear the same thing from pretty much all of them and most people don’t expect things to improve an opinion poll earlier this month showed 73% of Europeans think their standard of living will go down in the next year and four in 10 people surveyed in the same poll

Said they sometimes or most of the time have difficulties paying bills inflation and high energy prices brought on by the co pandemic and then the war in Ukraine have hit household budgets hard but Europe’s actually doing better than expected at some point governments were planning for power outages and energy rationing to get

Through a winter without Russian gas while the economy isn’t thriving the worst fears have lessened and the big picture is less bad than was initially thought despite the gloominess there is some reason for optimism wages are growing and inflation is dropping Europe overall is pretty comfortable part of what makes Europe

Great is also part of what makes Europe challenging which is it’s it’s inertia you know people are used to have having a certain level of Health Care and public services they’re not used to changes in that if you look at European Union in in in in in global there’s not

Do not so many domains where we are not one of the top performers we are one of the most Innovative continents in the world we are a wealthy continent with a very high purchasing uh purchasing power Europe’s position as an economic superpower is being tested in the face

Of of Crisis but so far the continent has shown more resilience than predicted Daniel winter from our business desk is here again to take a closer look at this one more resilient than predicted we’re talking about Europe there what about Europe’s biggest economy Germany though well Germany is

Still doing well in the ranking of countries in the world of course um and to stick with the mood of Christine’s report of course Germany has record employment the the Dax stock index of top German firms is doing extraordinarily well and also you have the potential for increased business

Investment as interest rates come down but and it’s a very very big but the economy is struggling there’s no other way of saying that having grown in only two of the last six quarters it’s very difficult economically in Germany right now so why is Germany struggling so much

I mean it seems to have everything set up for Success well let’s look at all the things that make up this buzzword you keep hearing GDP that’s a way of measuring economic growth well most of the factors that make that up are struggling they’re stagnant I mean start

Off with high energy prices it’s this is affecting households massively the German government is removing subsidies that are helping households that’s going to impact their spending that also has a knock on effect for energy intensive Industries think of you know chemicals and steel that feed into other core

Industries like car making in Germany so their spending is going to be down um and also the the demand from for German products from Key markets like China CH is also struggling and finally there’s this hole in the budget after a Court ruling in Germany has basically meant

That the government is having to dial its spending back all of these factors make up GDP and that’s why Germany is struggling why it’s going to have a very stagnant new year but isn’t there a lot Germany could do to change the situation I mean is is reform going to be one of

The words you’re going to use of course absolutely how did you know Ben um well of course and about sweeping bureaucracy it’s about making investments in key Industries like energy let’s say that’s going to be a big factor for Germany going into the future and also addressing challenges which are very

Very difficult like the declining Workforce in Germany too and what’s happening with the car industry as well competition popping up all over the globe but that’s why it’s very hard to say that Germany is set up for a happy New Year it sounds like you’re going to

Have a a tricky New Year in 2024 there’ll be a lot to report on that’s for sure that’s for sure Daniel winter thank you very much for coming in and Reporting on that one for us

Europeans are becoming increasingly pessimistic about their economic outlook. A survey of EU citizens shows seven out of 10 think their standard of living will fall in the coming year. But the bloc has been more resilient than many expected. DW’s Christine Mhundwa reports from Brussels.

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22 comments

  1. They are right. Between an aging population and absolutely self destructive EU policies your future doesn't look bright. No, importing unskilled 3rd worlders to sign up for welfare won't help.

  5. Europeans become pessimistic about their economic outlook because their EU leaders have denied them and their industries affordable energy, which are basic needs. EU leaders were signing an economic sentence when they swapped affordable long term Russian gas contracts for expensive short term Russian gas contracts, months before Putin started to limit the gas supplies. Nothing of these sanctions met the desired result. Putin still is in office, his war chest is not empty, occupied territories will not be recaptured and Russia's economy has not been broken. Instead of admitting their mistakes, EU leaders stick to a policy that hurts our own economies. Meanwhile the rise of extreme right hollows out our democracies. What a farce!

  7. Europe is doing better than expected becasue a year ago governments were talking about planned blackouts and fuel rationing etc doesnt has any information value at all. That's just people getting a tiny glimpse into crisis management, many politicians probably only just realising it exists during the pandemic, but there always are and always have been plans for rationing for example, just in case. There are plans for nuclear disasters, that doesn't mean they happen all the time or that we have even come close to any in decades. And claiming that Europe is still doing better than most is nice and true, but it makes the future look bleak at best. We should aim higher and strive to improve, maybe help others along the way, not calming ourselves that we are not as bad off as some places in the world. Some 2 years ago my country compared itself to Germany like "we are not doing as well as they are, but we are closing the gap" now our government is comparing us to Greece during their crisis "we are still doing better than Greece was doing in 2009." That really doesn't instill hope about the future in people.

  8. Love how the media gas lights play Audience by saying that your living rather comfortably and that is not all that bad and how it could be worse. Yeah thats very helpful

  11. next year would certainly worst although estabishment try to convincing otherwise out of fear that common people come in a revolt perhaps or electing probably more and more far-right goverments in the eu,for many average people livingstandards will falling for sure not allways so deep but certainly is in a permanent decline and i expecting the eu-block are indeed remaining resilient because they implementing austerity to save its own economics, but i will see if my expectations are becoming realised,but if so it shall destroying more average people in a financial-way with increasing debts and higher prices for food energy etc,.

  13. This year I've spent less water, gas and electricity, compared to 2022 i've saved up almost 1500€. This year I hope to save a little bit more as i'm going to end all the TV assignments and other stuff as gym. No TV no electricity waste more time to do exercise by myself outside.

  21. Germany is in great shape, as long as it keeps liberal value, and produces greatest lecturers of the world such as von der leyen, Baerbock, it'll be growing faster and doing better economically. Congratulations, Germany!

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