GfK: Romanians’ consumer sentiment takes a nosedive in Q1 2018

Georgeta Gheorghe 19/04/2018 | 11:58

Despite the fact that Romanians’ expectations when it comes to revenues increases remains positive in Q1 2018, consumer sentiment during the period surveyed dropped and remains negative, a report by GfK reads.

Romanians’ income expectations have decreased in March 2018, however, they remained positive, at +4 percent. Compared to December 2017, this represent a -2.6 percent decrease. In March 2016, this indicator stood at 33.7 points.

Moreover, Romanians’ expectations regarding economic growth increased slightly, by 2.7 percent, but remains negative, at – 17.

According to the report, consumer sentiment decreased by -3 percent. Compared to December of last year, Romanians’ consumer sentiment decreased by 2.5 percent.

Even if the indicators did not record such strong losses as in December 2017, income expectations and propensity to buy fell again.

The mood of European consumers is also proving to be rather less optimistic in the first quarter of 2018 than at the end of last year. Countries that showed strong increases in 2017 have clearly lost points. On average across all EU countries, economic expectations fell in March 2018 to 15 points.

This is two points down on December 2017. However, consumers in the Czech Republic and Belgium have a far more positive view of the economic development of their countries.

Income expectations continued to rise on average across Europe. They increased by 1.3 points in the first three months to reach 16.3 points in March.

Consumers in Great Britain and Bulgaria were particularly optimistic that wages would rise and registered double-digit growth for this indicator. Clear losses were recorded in France and Spain.

The propensity to buy fell on average across the EU by 1.3 points at the beginning of the year and stood at 19.7 points in March. This indicator rose particularly strongly in the Czech Republic (in contrast to most other European countries) and underscores the generally positive mood of Czech consumers.

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