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Trade : GfK Study: Index on Romanian consumers' confidence determined by pessimistic forecasts for most chapters
Romanian consumers did not recover in 2018 the confidence in economy they had the previous year and became reticent on the background of tensions in the monetary market (ROBOR increase) and the uncertain economic situation, according to a study made by GfK, an analysis and study company, on consumer confidence.
In these conditions, the Consumer Climate index measured by GfK is still negative, in the pessimistic area (-20.7).
“The index on Romanian consumers' confidence is determined by pessimistic forecasts for most chapters. Only 11% believe in a positive evolution of economy and unemployment rate is expected to drop the following year. However, Romanians are more optimistic when we speak about expectations om their own finances. About a quarter of them believe it looks better, compared to 19% the previous year,” the report shows.
Even if the FMCG market (Fast Mover Consumer Goods) and electro-IT marked increases in 2018, consumers are reticent when it comes to the purchase of long term use goods in the future.
For 2019, 4 out of 10 Romanians (42%) declare they will reduce their budget for purchases like furniture, washing machines, while almost the same number say they will maintain the budget for such purchases constant (41%).
Only 10% of Romanians expressed their intention to invest more than they have until now.
Results come from Omnibus GfK study, made through TAWI methodology on 1020 respondents at national level .
The consumer goods industry recorded an increase of 6% in 2018 compared to 2017, according to Consumer Panel GfK study, while the Romanian consumer goods market recorded a 13% growth compared to the previous year.