Bulgarian consumer confidence rose in July 2017 – statistics institute

Bulgarian consumer confidence rose in July 2017 – statistics institute

Consumer confidence among Bulgarians was 1.6 percentage points higher in July 2017 than in April, a regular three-monthly survey by the National Statistical Institute (NSI) has found.

The consumer confidence indicator in July 2017 was 3.9 percentage points higher than in July 2016, the NSI said on August 7.

Compared with April, consumer confidence was up both among Bulgarians living in cities and in rural areas, by 1.2 and 2.8 percentage points, respectively.

At the same time, forecasts among Bulgarian consumers for the next 12 months are less negative compared to the previous survey, the NSI said.

In comparison with April, their assessments and expectations about the changes in the financial situation of their households are more favourable.

Bulgarian consumers continue to consider that over the past 12 months there has been an increase of consumer prices, but at a lower rate, compared to the assessments registered in April.

At the same time, their inflation expectations about the next 12 months are less intense.

As regards the unemployment in the country over the next 12 months, there was less gloominess.

The forecasts are shifting towards there being no change in the numbers, or possibly a slight reduction, as a result of which the balance indicator decreased by one percentage point, the NSI said.

In July, most Bulgarian consumers continue to assess the economic situation in the country as unfavourable for savings, although their proportion of people with this opinion was lower than three months ago.

The July survey showed some improvement of the total assessment of the present situation for making major purchases of durable goods, the institute said.

Consumers living in the villages are favourable about undertaking such spending over the next 12 months, while Bulgarian city dwellers’ expectations are more reserved, the NSI said./IBNA