Decreasing consumer sentiment in 2019
The value of the consumer confidence indicator has been gradually decreasing in the last few months. It decreased by 1 percentage point (p.p.) in April and was 4 p.p. lower than in January. However, it remained well above the long-term average (by 12 p.p.).
The value of the confidence indicator decreased due to the more pessimistic expectations of consumers about the country’s economy (by 4 p.p.) and the number of unemployed (by 2 p.p.). Savings expectations increased slightly (by 1 p.p.), while expectations about the household finances remained the same.
Consumers more pessimistic than in April 2018
Consumer confidence indicator decreased by 9 p.p. at the annual level.
It decreased primarily due to significantly more pessimistic consumer expectations about the country’s economy (by 16 p.p.) and about the number of unemployed (by 15 p.p.). Expectations about household finances and savings decreased only slightly (by 3 and 1 p.p., respectively).
Consumers more pessimistic about the country’s economic conditions
Consumer opinion about the general economic conditions worsened to a much larger extent than their opinion about their household’s financial situation. As mentioned, the opinion about the country’s economy and unemployment decreased the most at the annual level (by 16 and 15 p.p., respectively). Since the beginning of this year, these two indicators worsened by 8 p.p. each. Nevertheless, their values remain above the long-term average. In addition to these, also the opinion about the country’s economy in the last 12 months and about price levels worsened since last April.
Consumers more pessimistic also about larger investments
In April 2019, consumer expectations about home improvements and car purchase worsened (by 6 and 5 p.p., respectively) compared to January 2019, when these two indicators reached the highest values in the last ten years. Expectations about home purchase worsened by 1 p.p.