Consumer survey, Slovenia, November 2020
Deterioration of the consumer sentiment continued in November 2020
Consumer sentiment was again lower in November 2020 at the monthly level. Consumers were more pessimistic especially about the country’s economy.
Consumer sentiment lower at the monthly level
In November 2020, the consumer sentiment deteriorated for the third consecutive month. This time it fell by 6 percentage points (p.p.) at the monthly level.
All four component indicators declined in November. Unemployment expectations declined by 8 p.p., expectations about the country’s economy by 7 p.p., expectations about households’ finances by 5 p.p., and savings expectations by 2 p.p.
Among other indicators, the indicator general economic situation in Slovenia over the past 12 months deteriorated the most (by 9 p.p.). The value of this indicator in November 2020 was the lowest since December 2013.
Sentiment lower also at the annual level
Consumer confidence declined by 21 p.p. over November 2019. It was also 29 p.p. lower than last year’s average.
The value of this indicator was lowered by the deterioration of three expectations indicators, namely expectations about the number of unemployed (by 40 p.p.), expectations about the country’s economy (by 31 p.p.) and expectations about household finances (by 18 p.p.). Expectations about savings slightly increased at the annual level (by 1 p.p.).
The data are based on the Consumer Survey, which was answered by 1,204 persons between 2 and 15 November 2020.