Bulgaria's Consumer Confidence Indicator Down by 2.1 PP in July

In July 2013, the total consumer confidence indicator decreases by 2.1 percentage points compared to its level 3 months ago as a result of the decreased confidence of both urban and rural inhabitants - by 1.5 and 4.0 percentage points, respectively, according to Bulgaria's National Statistical Institute (NSI).

Consumers' opinions about the development of the economic situation in the country over the past 12 months, as well as their expectations about the next 12 months, are more pessimistic compared to the previous survey, as a result of which the balance indicators decrease by 1.8 and 7.4 percentages points, respectively.

As regards unemployment, the prevailing opinion is that there will be staff cuts over the next 12 months, and the urban population forecasts a higher pace of job losses.

In comparison with April 2013, consumers' assessments about the changes to the financial situation of their households over the past 12 months grow less pessimistic, but their expectations about the next 12 months are more unfavorable.

Assessments of changes to consumer prices over the past 12 months are more moderate in comparison with the opinions expressed 3 months earlier, as a result of which the balance indicator decreases by 11.1 percentage points.

In July, the majority of consumers continue to assess the economic situation in the country as unfavorable for savings, although their relative share decreases in comparison with the previous survey.

The last inquiry registers a slight improvement (of 2.8 percentages points) in the total assessment of the current situation as regards major purchases of durable goods, and consumers' intentions of making such expenses in the next 12 months are more favorable.

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