Consumer confidence worsens in Oct - GKI

Analysis

Photo by AlexLMX / Shutterstock.com

Economic research institute GKIʼs gauge of consumer confidence slipped to -34.2 points in October from -31.1 points in September, falling for the third month in a row after three consecutive months of improvement following a pandemic plunge in April, according to a report by state news wire MTI.

Photo by AlexLMX / Shutterstock.com

The index recovered only about 40% of the ground lost in April and the trend is deteriorating.

In October, consumersʼ assessments of their financial situation were worse than in September.

Unemployment fears are growing again, in fact, at a faster rate than earlier.

Consumersʼ views on their future ability to make savings slightly improved.

Their outlook for the economy as a whole worsened. By August, this sub-index recovered almost 75% of the ground lost in April but this ratio dropped to 50% by October.

Inflation expectations strengthened, but peopleʼs expectations of their ability to make big-ticket purchases improved.

ADVERTISEMENT

Latvia PPI inflation accelerates further in May  Figures

Latvia PPI inflation accelerates further in May 

Lawmakers postpone expanded data provision for tourism secto... Parliament

Lawmakers postpone expanded data provision for tourism secto...

Dóra Petrányi to co-head CMS Tech, Media, and Comms Group Appointments

Dóra Petrányi to co-head CMS Tech, Media, and Comms Group

Budapest targets tourists with public transport fare hikes City

Budapest targets tourists with public transport fare hikes

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.