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Consumer expectations for nominal income growth saw an uptick to 1.4 per cent, while perceptions of nominal spending growth over the previous 12 months declined to 6.4 per cent, aligned with inflation perceptions. However, expectations for nominal spending growth over the next 12 months remained stable at 3.7 per cent.
Euro area’s perceived inflation fell to 5.5 per cent in February, down from January’s 6 per cent, with 12-month expectations dropping to 3.1 per cent.
Three-year inflation expectations were stable at 2.5 per cent.
Nominal income growth expectations rose to 1.4 per cent in February, while economic growth is expected to remain at minus 1.1 per cent.
Economic growth expectations for the next 12 months held steady at minus 1.1 per cent, with expectations for the unemployment rate remaining unchanged at 10.9 per cent. While consumers anticipate a slightly higher future unemployment rate compared to the current one (10.5 per cent), indicating overall stability in the labour market, concerns persist, particularly among the lowest income quintile, as per the survey.
Fibre2Fashion News Desk (DP)
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