Bear
Israelis are feeling bearish despite the election campaign rhetoric. Photo by AP
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Israelis don't think their financial situation will improve after Election Day on Tuesday: 57% think Israel is now in a recession and the majority also thinks the recession won't end this year.

Nielsen's global consumer confidence survey figures shows that only 11% of Israelis who think there is now a recession feel it will end within a year.

The Nielsen data is based on a survey conducted on the Internet among some 29,000 consumers in 58 countries, 500 of whom were from Israel.

In addition, Israeli optimism is declining. At the end of the third quarter of 2012, 16% thought the country would see an end to the recession within a year. The figures for Israel at the end of 2012 were similar to the average for European nations, where consumers were also considered pessimistic.

The 66% of Israelis who think we were in a recession at the end of the third quarter of 2012 was the highest level since the global financial crisis in 2008, though this figure has now improved slightly. But this is still below the European average of 75% who think their countries are in a recession.

Israelis also say they feel a low level of economic security, especially since the social protests of the summer of 2011. These numbers have been falling for six consecutive quarters. Before the protests broke out, Israelis were much more optimistic than global averages.

Israeli consumers say their biggest worry is still of war, but the percentage of Israelis citing this as their main fear fell in the fourth quarter of last year to only 18%, down from 26% in the previous quarter. It is possible the reason is the coming election has driven the fear of a war with Iran off the top of the list of worries.