Bulgarian consumer confidence in October 2015 higher than a year earlier

Bulgarian consumer confidence in October 2015 higher than a year earlier

Sofia, November 6, 2015/ Independent Balkan News Agency

By Clive Leviev-Sawyer of The Sofia Globe

Bulgarian consumer confidence was largely unchanged in October 2015 compared with July 2015, the National Statistical Institute (NSI) said on November 6.

This means an effective increase in consumer confidence over the past year, though with just one notable increase since October 2014 among the surveys done every three months by the NSI.

In July 2015 the total consumer confidence indicator remained at about its April level. In April, consumers were slightly more positive than they had been in January, the month that showed a 4.8 percentage point increase in Bulgaria consumer confidence compared with October 2014.

The NSI said that its October 2015 survey had found consumers slightly more positive about the change in their households’ financial situation in the past 12 months.

However, while those living in villages held that this would continue over the next 12 months, the urban population was slightly more pessimistic than it had been three months ago.

The total assessment of the households’ budget increased by 1.1 percentage point in comparison with July, as the improvement of family finances against three months before concerned largely the urban population.

Consumers’ opinions about the development of the general economic situation in the country over the past 12 months and their expectations about the next 12 months were less negative compared to the previous survey, as a result of which the balance indicators increased by 3.1 and 2.5 percentage points, respectively.

The NSI said that Bulgarian consumers continued to consider that over the past 12 months there had been an increase of consumer prices, but at a lower rate, as their expectations about inflation for the next 12 months were unchanged.

As regards unemployment, most believed that it would continue to increase over the next 12 months.

In October 2015, there had been a slight deterioration of the total assessment of ability to make major purchases of durable goods. Consumers continued to be negative about the possibility of buying a home in the next year, but were more optimistic about being able to buy a car.