Consumer sentiment lower at the monthly level
In August 2019 the consumer confidence indicator decreased by 2 percentage points (p.p.) over the previous month. After a significant drop in the second half of 2018, it increased slightly in the beginning of 2019. Since February 2019 it has remained at a similar level. In August it was 12 p.p. above the long-term average.
Among the components of the consumer confidence indicator, the expectations about unemployment worsened the most (by 6 p.p.). After two optimistic years, in 2019 there are again more consumers expecting increased unemployment in the next 12 months.
Expectations about the country’s economy also deteriorated (by 5 p.p.), while expectations about savings and household’s finances increased (by 4 and 1 p.p., respectively).
Sentiment lower also at the annual level
The value of the consumer confidence indicator was 3 p.p. lower at the annual level and 5 p.p. lower than last year’s average.
Consumer expectations about the number of unemployed and the country’s economy decreased the most (by 7 and 4 p.p., respectively), while their expectations about the household’s finances decreased more moderately (by 2 p.p.). On the other hand, savings expectations increased by 5 p.p.