Consumer sentiment lower at the monthly level
Consumer sentiment deteriorated for the second consecutive month. After a considerable decrease in September 2019 (by 4 percentage points – p.p.) it fell to a level last observed at the end of 2016, while in 2017 and 2018 it was at the highest level in the entire observation period. Despite the recent deterioration, consumer sentiment is still 8 p.p above the long-term average.
All four components of the consumer confidence indicator deteriorated at the monthly level: expectations about unemployment by 6 p.p., about the country’s economy by 5 p.p., about savings by 4 p.p. and about household’s finances by 2 p.p.
Also the majority of other indicators worsened, while expectations worsened to a larger extent than the opinions about the present and past conditions.
Sentiment lower also at the annual level
The value of the consumer confidence indicator was 2 p.p. lower at the annual level and 9 p.p. lower than last year’s average.
Unemployment expectations decreased at the annual level by 13 p.p., while the country’s economic expectations remained stable. On the other hand, expectations about savings and household’s finances increased (by 5 and 1 p.p., respectively).