Three-monthly poll: Consumer confidence in Bulgaria drops

A regular three-monthly poll by the National Statistical Institute (NSI), the results of which were released on November 7, shows that in October the total consumer confidence indicator dropped by four percentage points.

This was the result of decreased confidence both among people in cities and rural areas.

Consumers were more negative than in the previous poll about the general economic situation in Bulgaria over the past 12 months.

In October, an increase in pessimism in consumers’ assessments about the changes in the financial situation of their households over the last 12 months and in their expectations about the next 12 months, the poll found.

Views of the change in consumer prices over the past 12 months were more unfavourable in comparison with those three months earlier, while expectations about inflation over the coming 12 months were the same.

Pessimism about unemployment had grown.

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, the NSI said.

Their attitude regarding intentions to spend on major purchases of durable goods, such as‘buying or building a home (villa) and home improvements over the next 12 months is also negative, the poll found.