Consumer confidence improves in January, GKI says

Analysis

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Economic research institute GKI's gauge of consumer confidence rose to -33.8 points in January from -38.5 points in the previous month, according to a report by state news wire MTI.

Fear of unemployment continued to grow but households were less pessimistic about their own financial situation than a month earlier. More planned to make big-ticket purchases. Their outlook for the economy as a whole also improved slightly.

GKI's consumer confidence index bottomed out at -49.8 points in April, when the country went into pandemic lockdown. It recovered as far as -26.9 points by July, but started to decline again ahead of the second wave. In December, the index was level with its position in May.

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