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Consumer confidence drops to a three-year low

Ljubljana, 23 October (STA) - Consumer confidence in Slovenia deteriorated for the third month running in October to reach the lowest point in the last three years. The most influential factor was the more pessimistic expectations of consumers related to the economic situation in the country, the Statistics Office said on Wednesday.

The indicator for Slovenia's consumer confidence was down by two percentage points compared to September to a level where it was last time in mid-2016. It was still six percentage points above the long-term average, though.

In addition to the lower expectations related to the economic situation (down six points), also pulling down the indicator were the more pessimistic expectations about the number of unemployed persons (down four points).

On the other hand, Slovenian consumers expressed optimism in October regarding their prospects to save money (up three points) and the financial situation in their households (up one percentage point).

When it comes to the economic situation in Slovenia, a deterioration was detected both in the expectations and prospects of change in the next 12 months, with the relevant sub-indicators dropping by six percentage points each.

The expectations of consumers related to the economic situation in the country were at such a low point last time in the first half of 2016.

Consumer confidence in October was also down year-on-year by six percentage points, and was eleven points below last year's average, with the Statistics Office noting that 2018 was the best year on record in this respect.

The deterioration at the annual level was mostly a consequence of the more pessimistic expectations related to the number of unemployed persons and the economic situation in the country (down 16 and nine points, respectively).

Expectations related to the financial situation in households deteriorated by one percentage point, while consumers were more optimistic regarding their prospects to save money at the annual level (up three points).

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