Poll: Fifth consecutive increase in consumer confidence in Bulgaria

A regular three-monthly poll by the National Statistical Institute (NSI) has found that consumer confidence in Bulgaria in January 2024 improved compared with October 2023, the fifth consecutive poll to find an increase.

The NSI said that in October 2023, the total consumer confidence indicator increased by 3.3 percentage points in comparison with July.

In July 2023, the consumer confidence indicator was 3.2 percentage points higher than in April, while in April it had increased by 4.2 percentage points compared with January, when it had increased by four percentage points compared with October 2022.

In January 2024, the total consumer confidence indicator increases by 6.7 percentage points compared with its October 2023 level.

Among people living in cities, the indicator was up by 8.8 percentage points and among those in rural areas, by two percentage points.

Consumers’ views of the development of the economic situation in Bulgaria had improved, the NSI poll found.

At the same time, their expectations about the next 12 months were also more optimistic.

In comparison with three months earlier, consumers’ views about changes in the financial situation of their households over the past 12 months were more positive, as were their forecasts about the coming 12 months.

Consumers continued to hold that over the past 12 months, there had been an increase of the consumer prices, but at a lower rate compared to the view they held in the previous survey.

At the same time, they were less gloomy in their expectations regarding inflation in the coming 12 months.

They were slightly more positive about the possibility of being able to make savings, and about being able to make major purchases of durable goods.

(Photo: Carsten Gueth/freeimages.com)

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