Poll: Consumer confidence in Bulgaria plummets

A regular three-month poll by the National Statistical Institute (NSI) has found that consumer confidence in Bulgaria fell by 10.8 percentage points in October compared with July.

This is the largest drop in consumer confidence in Bulgaria since June 2020, when the indicator plunged against the background of the Covid-19 crisis, as The Sofia Globe reported at the time.

Results of the polls released in August and November 2020 showed slight recoveries, and an upward trend was shown in the results released in February, May and August 2021.

The NSI said that the October 2021 poll had found decreased confidence among both rural and urban inhabitants, by 11.9 and 10.2 percentage points, respectively.

Both those living in Bulgaria’s cities and rural areas were more pessimistic about the general economic situation in the country.

Over the previous three months, they also had become more negative about the financial situations of their households, the NSI poll found.

They saw the current economic situation in Bulgaria as unfavourable for making savings, and their expectations about the opportunity for saving over the next 12 months had worsened.

At the same time, consumers in Bulgaria said that over the past 12 months, prices had gone up.

They were also more pessimistic about unemployment.

Caution about making major purchases in the coming 12 months had risen, the poll found.

Attitudes about spending on major items such as buying a car or carrying out home improvements in the next 12 months were also negative, the NSI said.

(Photo: Clive Leviev-Sawyer)

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