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Study: Romanians more optimistic about consumption and want to make bigger purchases
At the end of the first quarter of the year the consumers’ economic expectations in Romania grew by 18.3 points, the same level as the one obtained in October 2015, people being ready to make bigger purchases, the GfK study about the consumption climate in Europe points out.
A year ago, the indicator was still 3.3 points. Consequently, Romanians have a more optimistic outlook on the future than they had 12 months ago, the study shows.
Expectations about incomes in Romania are included in this positive trend, growing to 33.7 points at the end of the quarter. This is the highest value recorded since the country was included for the first time in the study about the consumption climate, in May 2001. Due to a constant drop of unemployment in the last years, Romanian consumers expect higher incomes. According to their income increase expectations, Romanians are also ready to make big purchases, exceeding daily needs.
The 16.4 point purchase availability recorded at the end of March had the highest value since September 2006.
The European consumers’ positive disposition continued in the first quarter of the year. After the highest level of January 2008, recorded in December 2016, the consumption climate of the 28 EU countries grew until January by 2 points, to 19.9, maintaining a level of 18.9 in March.
Expectations about the economic situation, incomes and indicators for purchase availability, big differences were recorded in individual analyses of countries where the study was made. They can be attributed to different economic development and the situation in the labour force market. The influence of predominant topics at pan European level, such as Brexit, the rise of nationalistic parties, the new US government and the war with Syria did not affect the development of indicators in all countries equally.
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