site.btaOctober Consumer Confidence Lower Than in July

In October 2024, the total consumer confidence indicator decreased by 3.8 percentage points (pps) in comparison with July due to a decrease in confidence among both urban and rural inhabitants, by 3.3 and 5.0 percentage points respectively, the National Statistical Institute said.

The consumers' total assessment of the development of the economic situation in Bulgaria over the last 12 months remained largely unchanged compared to the previous survey, according to October data. However, the latest survey registered a certain pessimism in the consumers' forecasts for the next 12 months, due to which the balance indicator decreased by 3.3 pps.

Regarding changes in the households' financial situation in the last 12 months, the consumers' assessments were more unfavourable in comparison with three months earlier. Their expectations for the next 12 months were also more negative.

Unemployment expectations for the next 12 months grew more pessimistic among both the urban and rural population.

The majority of consumers continued to believe that in the last 12 months consumer prices had increased. However, their inflation expectations for the next 12 months were more moderate compared to July.

The latest survey found a deterioration in the consumers' intentions for major purchases of durable goods in the next 12 months. Their attitude towards spending on buying or building a home and home improvements in the next 12 months was also negative.