site.btaBulgarians Growing More Pessimistic about Unemployment in Next 12 Months - Consumer Survey

In October 2022, the total consumer confidence indicator decreased by 0.6 percentage from July, which is due entirely to the decreased confidence among the urban population, shows the latest consumer survey published by the National Statistical Institute. Both the urban and rural populations are growing more pessimistic about the unemployment in Bulgaria over the next 12 months.

The general economic situation in the country over the last year has worsened slightly compared to the previous survey three months ago, as a result of which the balance indicator decreased by 3.5 percentage points. The expectations of city residents are that this tendency will continue in the next 12 months, while rural residents are less negative than they were in July.  

Regarding the financial situation of households over the last 12 months, urban residents are less pessimistic, while the rural population is more reserved compared to the previous inquiry. At the same time, the expectations of both urban and rural consumers for the next year are more favourable, as a result of which the total balance indicator increased by 2.7 percentage points in October.

The assessments about the change in consumer prices over the last 12 months are less favourable than in the previous survey, with the balance indicator going up by 2.2 percentage points. However, the inflation expectations for the next 12 months are less intense.

In October, the majority of consumers assessed the economic situation in the country as unfavourable for savings. Their attitude towards spending on major purchases of durable goods, on a car, on a new home, and on home improvements in the next 12 months is also negative.