Bulgarian consumer confidence dropped in October 2018, three-month poll finds

Bulgarian consumer confidence dropped in October 2018, three-month poll finds

A poll by Bulgaria’s National Statistical Institute (NSI) has found that consumer confidence dropped by 3.2 percentage points in October 2018 compared with three months earlier.

The drop was caused by decreased confidence among both Bulgaria’s rural and urban populations, the NSI said on November 7.

Opinions about the general economic situation in Bulgaria over the past 12 months and expectations about the next 12 months are more unfavourable compared to the previous survey, the NSI said.

The poll already had found a slight drop in consumer confidence in Bulgaria in July, though it had been higher in April than in January.

Bulgarians living in villages were more pessimistic in October about the financial situations of their households. At the same time, city-dwellers were less negative in their attitudes than they had been three months earlier.

However, the forecasts of both urban and rural populations about the next 12 months had worsened, as a result of which the total balance indicator decreased by 5.4 percentage points.

Bulgarian consumers continue to consider that over the last 12 months there has been an increase in consumer prices, while their expectations about inflation over the coming 12 months remained the same.

Most consumers in Bulgaria saw the current economic situation in the country as unfavourable for savings, and they had a gloomier outlook about prospects for saving in the coming 12 months.

They also expected unemployment to worsen in the next 12 months. This was particularly so among the urban population.

People also were gloomier about their prospects of being able to make major purchases of durable goods, the NSI said./IBNA

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