Consumer Confidence Improves, Remains Below Average
Consumer confidence improved in January compared to the previous month but is still below the long-term average, the Institute of Economic Research reported.
While in November and December the consumer confidence index stood at -18, it rebounded to a more hopeful -13 in January. In January 2011, before the sovereign debt crisis had hit Europe, the index was pegged at 1 while the deepest slump in 2009 saw it drop to -20.
The consumer forecast of their own household's financial situation over the next year also showed a positive trend climbing from -8 to -4. The outlook of saving money over the next year scored -21, ending the downhill trend that bottomed at -29 in December.
The prospect of the country's economic situation in the coming 12 months rose from December's -17 to -10. Projections of the employment situation took a slight drop from 18 index points to 17.
Ingrid Teesalu