A regular three-month poll by the National Statistical Institute (NSI) has found that in Bulgaria, consumer confidence improved in July 2023, rising by 3.2 percentage points compared with the results of the April survey.

The increase was entirely due to increased confidence among the urban population, the NSI said.

Consumers had a slightly improved view of the economic situation in Bulgaria over the past 12 months, with this indicator rising by 3.9 percentage points.

Expectations among people living in the cities remain favourable as opposed to the rural population is slightly more pessimistic than they were in the previous survey.

Consumers’ assessments about the financial situation of their households over the past 12 months and their expectations about the next 12 months are more positive compared with three months earlier

Consumers continued to consider that over the past 12 months, there had been an increase of consumer prices, but at a lower rate in comparison with the assessments registered in April.

At the same time, their inflation expectations over the next 12 months are less intense.

As regards unemployment in Bulgaria over the next 12 months, the forecasts are shifting towards more moderate opinions, the NSI said.

The present economic situation in Bulgaria continues to be assessed by the majority of the consumers as unfavourable for savings and their expectations about the opportunity for saving over the next 12 months have worsened.

The survey showed a slight drop of the total assessment of the present situation for making major purchases of durable goods, as the consumers’ attitude to make such expenditures over the next 12 months are more reserved, the NSI said.