Consumer confidence continues to worsen, GKI says

Analysis

Photo by AlexLMX / Shutterstock.com

Economic research institute GKIʼs gauge of consumer confidence fell to -38.5 points in December from -33 points in the previous month, state news wire MTI reports.

Photo by AlexLMX / Shutterstock.com

Fear of employment grew and households were more pessimistic about their own financial situations. Fewer planned to make big-ticket purchases. Their outlook for the economy as a whole also worsened.

GKIʼs 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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