Greek households are increasingly anxious about their financial outlook, according to
Greek households are increasingly anxious about their financial outlook, according to the latest monthly economic sentiment survey by the Foundation for Economic and Industrial Research (IOBE). Findings indicate that many are already relying on savings to cover daily expenses, signaling deepening economic concerns.
Despite a rise in private savings, the IOBE survey shows growing household concern. Many Greeks don’t expect to save or make major purchases in the next year, and some plan to dip into deposits. This bleak outlook aligns with Eurostat and ECB findings, placing Greece near the bottom in EU purchasing power.
Consumer Confidence Slumps Further
According to IOBE, Greece’s Consumer Confidence Index fell to -46.9 points in June, down from -42.7 in May. This makes Greek consumers the most pessimistic in the European Union, outpacing even Estonia (-35.6) and Hungary (-29.6).
All key indicators worsened in June, including expectations for the economy, household finances, major purchases, and savings. Notably:
• Saving prospects hit new lows: The index for saving intentions dropped to -67.7 from -65.0 in May, with 84% of households unlikely to save—compared to EU and Eurozone averages of +7.0 and +7.5.
• Growing financial strain: 61% of households say they’re “just getting by,”
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