Consumer survey, Slovenia, February 2021
Consumer confidence in February 2021 at the highest level since April 2020
In February 2021, the consumer confidence indicator was 8 percentage points higher at the monthly level but 8 percentage points lower at the annual level.
Consumer confidence up at the monthly level
The consumer confidence indicator improved over the previous month by 8 percentage points (p.p.).
All four components of the consumer confidence indicator improved at the monthly level: expectations about the country’s economy by 17 p.p., expectations for major purchases by 6 p.p., expectations about households’ finances by 5 p.p. and current households’ finances by 4 p.p.
That consumer sentiment in Slovenia is improving is also confirmed by the fact that in February 2021 all indicators increased, except for two indicators about price movements, while the indicator savings at present remained at the same level. Unemployment expectations improved the most, by 18 percentage points.
Consumer confidence declined at the annual level
The consumer confidence indicator was 8 p.p. lower than in February 2020 but 5 p.p. higher than last year’s average.
All four components of the consumer confidence indicator deteriorated at the annual level: current households’ finances by 10 p.p., expectations for major purchases by 8 p.p., expectations about the country’s economy by 7 p.p., and expectations about households’ finances by 6 p.p.
The data are based on the Consumer Survey, which was answered by 1,178 persons between 1 and 14 February 2021.
Time series models were carefully revised and, if necessary, changed. The period from January 2005 was taken into account. Due to changes, larger revisions in seasonal adjustment results are possible.
Methodological changes in 2021
Starting with January 2021, several changes were introduced to the Consumer Survey:
1. The consumer confidence indicator is calculated according to a new formula, and will be based on the answers to questions 1, 2, 4 and 9 (until January 2021 it had been calculated from questions 2, 4, 7 and 11).
2. A question on uncertainty was added to the Consumer Survey.
3. Due to the changed method of data collection in 2016, level shifts occurred in three time series. These time series (questions 6, 9 and 11) had been recalculated and were published for the first time in January 2021.