Bulgaria's consumer confidence worsens in Oct - stats office

Bulgaria's consumer confidence worsens in Oct - stats office

Bulgaria’s consumer confidence index fell by 10.8 percentage points (pp) in October compared to its reading recorded three months earlier, the National Statistical Institute (NSI) said.

In October, consumer confidence among rural and urban inhabitants dropped by 11.9 pp and 10.2 pp, respectively, the NSI said in a statement last week.

Consumers' opinions about the development of the general economic situation in the country over the last 12 months as well as their expectations for the next 12 months are more pessimistic as compared to the opinions from July.

"In comparison with three months earlier, their assessments and expectations about the changes in the financial situation of their households are also more negative," the NSI said.

The present economic situation in Bulgaria is assessed by the majority of the consumers as unfavourable for savings. Expectations about the opportunity for savings over the next 12 months have worsened, the NSI noted.

As regards the unemployment in the country over the next 12 months, the pessimism has also increased, as the opinions of both the urban and rural population shifted towards more negative expectations.

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