November 7 (BTA) - In October 2020, the total consumer confidence indicator went up by 0.8 percentage points from its July level, which is entirely the result of the urban population's increased confidence, the National Statistical Institute said Friday. According to the Institute's latest consumer survey, October also saw Bulgarians growing more pessimistic about the unemployment situation in the country in the next twelve months, with the expectations of both the urban and the rural populations shifting towards the more negative.

The Bulgarian consumers' total assessment of the development of the economic situation in the country in the last twelve months improved slightly in October, leading to an increase of the balance indicator by 3.6 percentage points. The urban population expects this positive trend to continue in the next twelve months, while the rural population is slightly more pessimistic than it was back in July.

Compared with July, October saw a drop in negativism both in consumers' assessments of the changes observed in the financial state of their households in the last twelve months, and in their forecasts about the next twelve months.

According to the majority of consumers in October, consumer prices increased in the last twelve months but at a lower rate compared to the assessments registered in the previous consumer survey. Consumers' inflation expectations for the next twelve months were also less prominent in October.

In October similarly to July, the majority of consumers assessed the economic situation in Bulgaria as unfavourable for savings, but last month their share dropped slightly compared to July. They also have negative expectations regarding the spending of money on buying a car, purchasing or building a dwelling (villa), and making home improvements in the next twelve months.


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