Consumer confidence down 4.3%

In October, the overall index of consumer confidence fell by 4.3 percentage points, compared to its level three months ago, showed National Statistical Institute (NSI) data from a survey of consumers, released on Monday. A decrease in consumer confidence – of 4.6% and 4%, respectively - was observed both in urban and rural areas.

The survey in October showed an overall increase in the pessimistic assessments and expectations of consumers, compared to the previous survey in July. Pessimism spread onto consumers’ assessments and expectations about the changes in the financial situation of their households, consumer prices and the unemployment rate over the next 12 months.

The current economic situation in the country is assessed by most of the consumers as unfavourable for saving money and their expectations regarding the ability to save over the next 12 months worsened.

The most recent poll reported a deterioration of 3.6 percentage points of the total assessment of making expenses for the purchase of durable goods in the current situation. The changes in the indicators about the planned expenses for buying a car, a home, a villa or making home improvements over the next 12 months are also negative.

The current economic situation in Bulgaria is assessed by the majority of consumers as bad and the pessimism of consumers about the development of the general economic situation in the country over the next 12 months is increasing.

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