Bulgaria consumer confidence improves in Q3

Analysis

Bulgaria's consumer confidence index increased by 3.5 percentage points (pp) in July compared to the reading recorded three months earlier, due to an increase of consumer confidence among both urban and rural inhabitants, the Sofia-based National Statistical Institute (NSI) said.

In July, consumer confidence among urban and rural inhabitants rose by 3.1 pp and 4.7 pp, respectively. Consumers' opinion about the development of the general economic situation in the country over the last 12 months marks slight improvement.

When it comes to their expectations over the next 12 months, consumers in urban areas have a more positive view than rural inhabitants, as compared with the results from April, the statistics agency said. Consumers' assessments about the changes in the financial situation of households over the last 12 months as well as their expectations about the next 12 months compared to three months earlier are less negative.

Regarding unemployment in the country over the next 12 months, the forecasts continue to shift towards more moderate opinions, as a result of which the balance indicator decreased by 4.4 pp, the NSI noted. 

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