Consumer Confidence Improves Slightly
Consumer confidence in March improved just slightly compared to February, but remained below the long-term average, fresh data published by the Institute of Economic Research reveal.
The consumer confidence indicator for March stood at -12, a two point improvement month on month, according to the institute. The long-term average is currently at -10.
In March 2011, immediately after the sovereign debt crisis had hit Europe, the index stood at a much more hopeful -1.
Consumer forecasts on their own household's financial situation over the next 12 months slightly decreased from February's -3 to -4. Of those polled by the institute, around 20 percent expected their economic situation to improve within a year, while 47 percent expected the situation to stay the same and 24 feared its worsening.
Expectations regarding the country's economic situation in the coming 12 months remained unchanged compared to last month, standing at -5. The outlook of saving money over the next year dropped to -27 from last month's -26.
According to the institute's data, 37 percent of households managed to save money in March, while 51 percent made ends meet and the rest either lived on credit or from their past savings.