Economic sentiment level versus the quality of life in European Union member states

Abstract

The purpose of this paper is to evaluate the interplay between variables pertaining to the satisfaction of life and economic sentiments of citizens of selected European countries. The analysis of the connections will be conducted based on existing subjective primary data. The data in question are results of international comparative surveys (European Social Survey, ESS; the OECD's Better Life Initiative) and results of consumer economic sentiment surveys ordered by the European Commission. The research procedure also benefitted from the selected items of literature available in the form of books and articles. Population economic sentiments are subject to cyclical changes connected with the changes in economic situation in individual countries. The analysis of secondary data allows for the conclusion that there is a statistically significant direct or indirect strong relationship between assessments of life satisfaction and consumer confidence indicator. The grouping of the researched countries based on secondary data has made it possible to capture the similarities between individual states.