In October 2018, Total Consumer Confidence Indicator Decreased by 3.2% Compared to July

Business » FINANCE | November 7, 2018, Wednesday // 14:08
Bulgaria: In October 2018, Total Consumer Confidence Indicator Decreased by 3.2% Compared to July pixabay.com

In October 2018, the total consumer confidence indicator decreases by 3.2 percentage points in comparison with to July, which is due to the decreased confidence among both urban and rural inhabitants, according to the National Statistical Institute.

The opinions about the development of the general economic situation in the country over the last 12 months (Annex, Figure 2) and the expectations over the next 12 months  are more unfavourable compared to the previous survey. As regards the financial situation of the households over the last 12 months, a pessimism in assessments of living in the villages is observed, whereas the urban inhabitants are less negative in their attitude than they were 3 months earlier.

However, the forecasts of both urban and rural population over the next 12 months are worsened (Annex, Figure 5) as a result of which the total balance indicator decreases by 5.4 percentage points. The consumers continue to consider that over the last 12 months there has been an increase of the consumer prices, as the inflation expectations are preserved for the next 12 months.

The present economic situation in the country continues to be assessed by the majority of the consumers as unfavourable for savings and their expectations about the opportunity for saving over the next 12 months are worsened. Concerning the unemployment in the country, the forecasts are for certain reduction of personnel over the next 12 months, as according to the urban population, it is going to be with an even higher rate.

The last inquiry also reports slight deterioration of the total assessment of the present situation for make major purchases of durable goods

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Tags: consumer confidence indicator, National Statistical Institute (NSI)

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