Household sentiment on the economy deteriorated in the European Central Bank\u2019s (ECB) latest survey of consumers \u2014 as perceptions of inflation jumped, and expectations for economic growth, and incomes, turned more negative.<\/p>\n
The central bank reported that its latest online monthly survey \u2014 which canvassed 19,000 adults between April 2 and May 4 \u2014 found that the median rate of perceived inflation over the past 12 months rose to 4.%, up from 3.5% in the previous survey.\u00a0<\/p>\n
The median expectation for inflation in the next 12 months also came in at 4%, and the ECB said that uncertainty about inflation for the coming year was at an \u201celevated level\u201d \u2014 although this was unchanged from the last survey.<\/p>\n
Generally, lower-income consumers reported higher perceptions of, and expectations for, inflation than higher-income respondents. And, younger consumers had lower expectations for inflation than older ones, the survey found.\u00a0<\/p>\n
Looking ahead three and five years, inflation expectations came in at 2.9% and 2.4%, respectively \u2014 which was largely unchanged from the previous survey.<\/p>\n
Alongside the perception of elevated price pressures, the survey also found that economic growth expectations remain negative, with respondents anticipating -2.2% growth over the next 12 months, down slightly from -2.1% in the previous research wave.<\/p>\n
At the same time, consumers\u2019 income growth expectations for the next 12 months decreased to 0.8% in the current survey, down from 1.2% in the previous one \u2014 and, expected spending growth for the same period increased to 4.3% from 4.1%.<\/p>\n
\u201cQuarterly data revealed a mixed labour market sentiment,\u201d the ECB said \u2014\u00a0with unemployed respondents expressing greater hope that they will find a job in the next three months, while respondents that currently have a job reported a higher expected probability of that they will lose their job in the next three months.<\/p>\n","protected":false},"excerpt":{"rendered":"Household sentiment on the economy deteriorated in the European Central Bank\u2019s (ECB) latest survey of consumers \u2014 as…\n","protected":false},"author":2,"featured_media":57698,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2388],"tags":[33835,2881,10566,2168,4332,4,1858,17065,633,298,33836],"class_list":["post-57697","post","type-post","status-publish","format-standard","has-post-thumbnail","category-european-central-bank","tag-consumer-attitudes","tag-consumer-spending","tag-economic-forecasts","tag-economic-indicators","tag-employment","tag-europe","tag-european-central-bank","tag-income","tag-inflation","tag-jobs","tag-research-reports"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/europe\/wp-json\/wp\/v2\/posts\/57697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/europe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/europe\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/europe\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/europe\/wp-json\/wp\/v2\/comments?post=57697"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/europe\/wp-json\/wp\/v2\/posts\/57697\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/europe\/wp-json\/wp\/v2\/media\/57698"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/europe\/wp-json\/wp\/v2\/media?parent=57697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/europe\/wp-json\/wp\/v2\/categories?post=57697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/europe\/wp-json\/wp\/v2\/tags?post=57697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}