Consumer confidence worsens slightly in February - GKI

Analysis

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Economic research institute GKI's gauge of consumer confidence fell to -34.9 points in February from -33.8 points in the previous month, state news wire MTI reports.

Households' assessments of their own financial positions worsened in February and fewer said they could make savings. But their outlook for the economy as a whole improved. Fear of unemployment eased. Fewer households planned to make big-ticket purchases.

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.

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