Consumer Confidence in Bulgaria's Economy Record Low

Consumers doubt that the Bulgarian economy will escape European trends, and expectations for recovery have hit a record low, according to a GfK study.

The research announced that consumer confidence in Bulgaria's economy for the last quarter of 2011 was at -25.5 pts, which is its lowest value since May 2009.

According to GfK, two major strikes in Bulgaria at the end of last year - that of railway workers and grain producers - have further made customers' expectations for the future bleaker.

In spite of the Bulgarian government's plans to implement reforms in many areas during 2012, citizens are extremely anxious about the economic and financial situation in their country.

In addition, GfK mentiones that Bulgarian growth is still driven by a debt crisis troubled European Union.

Consumer confidence in other EU members has also dropped, with the highest trust recorded for Germany at -0.9 pts, and Spain at -3.6 pts.

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