Confidence at rock bottom in troubled states

Tim Wallace
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EUROPEANS in heavily indebted countries have given up hope of an economic recovery, according to a study published today, while Germans and Americans are far more confident about their countries’ prospects in the coming months.

Just three per cent of recession-hit Spaniards and Italians describe the current state of their economies as “good,” the Ipsos Mori poll shows.

French respondents are almost as gloomy, with only nine per cent expressing satisfaction with the country’s situation, just behind Britain at 10 per cent, which entered a double-dip recession in the first quarter of this year.

That dour assessment contrasts starkly with perceptions of the economic situation in Germany and Denmark, where 69 per cent said the current situation is “good,” and Sweden where 64 per cent agreed.

Looking ahead, only 12 per cent of Europeans expect their economies to improve in the next six months, down substantially from 20 per cent in April 2010.

Meanwhile respondents in the US and Germany are far more optimistic, with 25 per cent and 22 per cent forecasting improved growth.