European consumer confidence rising quickly!

The current edition of the RegioData Shopping Climate Index (SCI)* points to a very pleasing development of the shopping climate in many Western and Central European countries!
However, the situation does look quite different in the CEE region. With the exception of a select few noticeable improvements, the consumer climate in the region as a whole has developed rather negatively. This is particularly noticeable in the drop of the CEE region’s average SCI index, at a time when the total European average has actually risen.
In particular, Bosnia and Herzegovina, Greece, and Belarus are among the countries whose SCI’s have been very low for many years now. But the shopping climate has been worsening – quickly – also in Ukraine and in Russia over a longer period of time. Significant improvements are also not likely in most of the other Eastern European countries. However, Servia and the Czech Republic are among the few CEE countries with positive shopping climate development as of the latest edition of the index.
In contrast, consumer confidence has been thoroughly positive in Western and Central Europe, compared to previous periods. Particularly noteworthy developments have been registered in the former “crisis states” Spain, Portugal, and Ireland. The shopping climate in these three countries has improved dramatically in recent times. In the current edition of the index, Ireland has even recorded the highest SCI increase among all examined countries. The shopping climate is also positive in Germany. In fact, Switzerland and Germany’s SCI indices are both above 100, followed closely by Austria with a value just below 100. Consumer confidence is positive also in France, Iceland, and the Scandinavian countries. The situation is not expected to change significantly in the near future.
* The RD Shopping Climate Index (abbr. SCI) is an index specially developed for European markets which measures the current outlook for a country’s retail sector. The index indicates how consumption is developing as well as the state of factors affecting consumption in a given country.