Pessimistic Spaniards

According to a new study, Spain is amongst the 10 most pessimistic countries in the world.

The study, carried out by Nielsen Global Consumer Confidence Index, gauged how people were feeling during the last quarter of 2011.

The report showed that 92% of Spaniards considered the country to be in recession while 70% believed the recession would not end this year.

Although pessimistic, Spain only scored 55, well below the European average. Confidence fell in 24 of the 27 European countries. Only ten countries worldwide scored above 100.

Across Europe the number of people feeling that their financial situation would get worse over the coming months continued to increase.

The report also showed that an increasing number of people are changing their spending habits trying to make savings across the board.

“Overall, consumer discretionary spending will remain restrained and cautious in the first half of 2012,” said Dr. Venkatesh Bala, Chief Economist at The Cambridge Group, a part of Nielsen.

Spain was less pessimistic than Greece, no surprise there, who scored 41 and Portugal who scored 36, which Nielsen described as “alarming”. Why Portugal is more pessimistic than Greece is not clear.

Employment prospects don’t look good with 88% of those interviewed thinking their job prospects for 2012 were not good.


5 thoughts on “Pessimistic Spaniards

  1. DQ

    Well…. the “manana” attitude surely won’t help either. Time to take action and stop whining about things. I think things will get worse before they get better; time to be prepared with emergency food and other supplies such as water, medications, supplements, etc.

    Perhaps Portugal is more realistic about what’s going on than those in charge of Greece? It’s a world-wide issue that cannot be ignored, or the consequences will become even more dire than they are now… and they’re very bad now…

    I haven’t seen the housing prices dropping in Portugal, however, so I am not sure how realistic they are at the moment; Spain is dropping prices and it’s time for the foreign investors and buyers to come on in and do what they can to help — unless the government taxes us to death which tells us they don’t want us there…. They need to make up their minds — can’t say one thing and do another!

    As the people pull back on spending, more businesses will be affected, and so goes the vicious circle of fear…


  2. Another problem the Spaniards face, although they are not alone on this one, is the media.

    How can anyone feel optimistic about life when all the newspapers and TV newscasts are constantly telling people how the whole world is on the brink of collapse?

    Media reports about Spain say nothing good. Currently the news is telling us:

    • Forecast for Spain in 2012 – zero to low growth
    • Unemployment – likely to further increase this year. Youth unemployment figures embarrassing
    • Property Prices – further falls in property prices expected (good for buyers, not so for sellers who find themselves in negative equity)
    • Tax – increasing taxes across the board
    • Corruption – more corrupt officials popping up in court almost weekly
    • Decree to regularise property – more legal and licensed properties being demolished, no benefit from decree
    • Labor reforms – Make it easier and cheaper to sack workers, no protection for employees at all

    Is it any wonder they are pessimistic?

    1. DQ

      I totally agree with you — and this negative newscasting is world wide as well, which helps absolutely no one.

      And, I would also say that alot of what the media says is total bs — so where do you turn for real info? I guess you have to wade through all this mess as best you can…


    2. DQ

      For example, look at the Syrian government and what they are saying — the new “deal” is that all journalists will be killed, and they are doing just that. One that was on tv Tuesday night, mourning a colleague who was killed in the bombing, was herself then killed on Wednesday!

      It is horrifying to know that this is going on, but these folks are the only ones telling the truth when the governments are lying — and they are paying with their lives.

      It’s very very ugly out there, and we have to do our best to survive it, while trying to keep some semblence of dignity and positive attitude….


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