Bulgaria’s consumer confidence index fell by 4.9 percentage points (pp) in April compared to the level recorded three months earlier, as more pessimistic assessments and expectations were registered among both the rural and urban population, the National Statistical Institute (NSI) said on Monday.
In April, consumer confidence among urban and rural inhabitants declined by 5.7 pp and 4.6 pp, respectively, the NSI said in a statement.
Bulgarian consumers' opinions about the evolution of the general economic situation in the country over the past 12 months and their expectations for the next 12 months are more negative in comparison with January, mirroring their feedback on the current and expected state of household financials.
"The consumers continue to consider that over the last 12 months there has been an increase of consumer prices. At the same time, their inflation expectations about the next 12 months have strengthened," the NSI noted.
In terms of unemployment in Bulgaria over the next 12 months, the forecasts are shifting towards more moderate opinions, with the relative balance indicator dropping by 5.4 pp.
The bulk of consumers estimate that the current economic situation is not favourable to making savings, with most of them being negatively predisposed to making potential larger expenses in the next 12 months such as purchasing major durable goods, buying or building a home or a second home, or spending on home improvements, NSI data showed.