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Bulgaria Consumer Confidence Improves

Analysis

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Bulgaria's consumer confidence indicator rose to -25.5 in the third quarter of 2023, from a downwardly revised value of -28.7 in the previous three-month period, the National Statistical Institute (NSI) said on Friday.

The increase is due to improved confidence among urban dwellers, compared to slightly more unfavorable expectations from rural dwellers, according to the Sofia-based agency. Assessments regarding financials and the economic situation in the country over the last 12 months are more positive than in April, leading to a 3.9 pp growth in the total balance indicator.

Consumers see prices in the past 12 months rising at a slower pace than they reported in April, with inflation projections over the next year also being more moderate.

In terms of unemployment over the next 12 months, the balance indicator decreased by 1.3 pp, following a shift in expectations towards a more moderate level of joblessness.

There is a slight decline in the overall assessment of the current situation for purchasing durable goods, as the intentions of consumers to make such expenditures over the next year are more reserved, the statistics agency said. 

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