Extensive ESA research: Anxiety about the future, difficulty paying bills, reduced consumption

The difficulties faced by households and businesses due to the wave of accuracy are highlighted by the new large survey of Pulse RC on behalf of the Athens Chamber of Commerce conducted in Attica, from 22 to 24 June.

One of the most interesting elements of the research is the effort made by citizens to cut costs, reducing consumption even of basic goods, their concern about high energy prices, their assessment of support measures and the financial weakness that will lead to in limitation of this summer vacation.

“In order to be able to propose concrete solutions in response to the difficult problems of the time, it is necessary as a Chamber to have full knowledge of the situation in which the market and the real economy are”, says the president of EEC, G. Hatzitheodosiou, commenting on its results adds: “And the new large semi-annual survey of the general population of the Attica Region, by Pulse RC in collaboration and on behalf of the Athens Chamber of Commerce, reveals important data.

So we see that the private sector is still worried about the future, about six out of ten respondents notice that the largest percentage of price increases are in energy, there is a reduction in consumption, even in basic goods for one in five, while more than Half say they will take reduced vacations this year, mainly due to financial difficulties. It is also noteworthy that 42% of respondents believe that the measures taken by the government are moving in the wrong direction.

All of the above means for us at the ESA that we need to see the implementation of other policies and move from bonuses to tax cuts, such as the VAT on fuel and VAT to keep prices on basic goods.

“The situation in the economy and entrepreneurship is at a critical juncture, and if we want to firmly support households and businesses in the battle they are fighting, then we need to change the policy mix that has been pursued to date.”

Conclusions

The private sector (employees and the self-employed) show a similar picture to the previous October survey in indicator of concern for the future and sustainability of work their, the next six months: 48% are worried (from 51%) – 42% are not worried (from 43%). In the field of professionals and businesses, however, the concern has grown significantly: 60% are worried (from 53%) -29% are not worried (from 32%).

A corresponding image is reflected in indicator of optimism / pessimism for the Greek economy, to all the inhabitants of the Attica Region. To the question how they face the course of the Greek economy in the coming months, they answer: 31% optimistic (from 40%) – 68% pessimistic (from 58%)!

The results of current affairs questions are also of great interest:

Energy (electricity, fuel, heating) with almost six out of ten participants and basic goods (food, food, drinks, super market) with three out of ten, are the two categories of expenses that are most problematic today (up to almost exclusively, since the other categories record single-digit percentages) Greek households. The rate of energy concern is almost double that of basic goods!

In energy again, most (six out of ten) have noticed the highest rate of price increase – followed by basic goods.

Consumer goods (clothes, shoes, electrical appliances) and -almost equal- energy are the two categories of expenses that have mainly reduced, in recent months, consumers. Close to the above is the percentage of those (one in five) who have limited basic goods. A little lower are recorded those who have made cuts in entertainment, recreation, travel.

Approximately similar percentages are found in the answers of professionals / entrepreneurs.

Although the mood for holidays, after almost two years of pandemic and health restrictions, is definitely increased in all of us, only 36% of participants, respond south will spend the same (up and down and compared to last year) days for this summer vacation-just 4% answer: “more”. More than half will spend reduced days on their holidays this year: three out of ten (29%) will have fewer days off and one in four (25%) will not have any! The picture is similar for the self-employed.

The main reason that the days of this summer vacation will be reduced are the financial difficulties (for three out of four). Similar percentages, with those of the general population, are reflected in entrepreneurs / professionals.

The evaluation of government measures and announcements to support consumers from price increases: 50% of participants find them in the right direction (most of them, however, think they need more), compared to 42% who think they are moving in the wrong direction.

See the search in the right column “Related Files”