Consumer confidence in decline in Q4

Consumer confidence in Greece dropped three points in the last quarter of 2014, according to market research company Nielsen. The reading fell from 56 points in the third quarter to 53.

This was the first decline for the index after three quarters of growth, showing that the country has been in a period of fragile recovery, the Nielsen report noted. Despite this drop in the October-December period, the consumer confidence index remains considerably higher than in previous years.

Nielsen found that the rate of Greeks who were worried about the national debt rose to 32 percent in Q4 from 24 percent three months earlier, while there was a reduction in those concerned about their jobs, from 47 percent in Q3 to 42 percent in Q4. Worse, three in every four Greeks said they believed that the economic crisis in the country would continue during 2015.