Consumer confidence in Bulgaria drops, quarterly survey shows

In April 2022, the total consumer confidence indicator in Bulgaria fell by 4.9 percentage points in comparison with January, the National Statistical Institute (NSI) said on May 9, reporting the outcome of a regular quarterly poll.

A year ago, the NSI reported an increase of 2.7 percentage points, followed by an increase of 3.5 percentage points in July, a plunge of 10.8 percentage points in October, followed by a rise of 1.7 per cent in January.

The May 9 statement by the NSI said that among Bulgaria’s city dwellers, the indicator was down by 5.7 percentage points and among the rural population, by 4.6 percentage points.

The institute said consumers’ overall view, both with regard to the development of the economic situation in Bulgaria over the past 12 months and expectations about the coming 12 months, was more pessimistic than three months ago.

Consumers were more negative about the changes in the financial situation of their households, the NSI said.

Their expectations about inflation in the coming 12 months were higher than they had been in January, but were below the 10-year high recorded in October 2021.

Concerns about unemployment had moderated compared to the previous survey in January, NSI said, but consumers largely believed that the current economic situation in Bulgaria was “unfavourable to savings”.

The poll found that consumers’ intentions about making major purchases of durable goods, home improvement or home purchases was unfavourable over the next 12 months, the NSI said.

(Photo: Clive Leviev-Sawyer)

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