08.11.2022

BULGARIANS EXPECT LAYOFFS

In October, the general indicator of consumer confidence in Bulgaria decreased by 0.6 points compared to July, which is entirely due to the reduced confidence among the population in cities, the National Statistical Institute reported.

Regarding unemployment in the country in the next twelve months, pessimism is growing, with the opinions of the population from both cities and villages shifting towards more negative expectations.

Estimates of the change in consumer prices over the last twelve months are less favorable than the opinions expressed three months earlier (increase in the balance indicator by 2.2 points). At the same time, however, their inflation expectations for the next twelve months are less pronounced.

In October, a greater proportion of consumers assessed the economic situation as unfavorable for saving. Their attitude is also negative regarding spending on durable goods, buying a car, buying or building a home (cottage), and home improvements in the next twelve months.

According to users' assessments, the general economic situation in the country over the last twelve months has slightly worsened compared to the previous observation, as a result of which the balance indicator decreased by 3.5 points. The expectations of those living in the cities are that this trend will continue in the next twelve months, in contrast to the population in the villages, who are less negative compared to three months earlier.

With regard to the financial situation of households, in the last twelve months, a decrease in pessimism has been observed in the assessments of those living in cities, while the opinions of the population in the villages are more reserved compared to the previous survey. At the same time, the forecasts of both urban and rural consumers for the next twelve months are more favorable, as a result of which the overall balance indicator increases by 2.7 points.