Business News

Consumer Confidence Picks up in November

Ljubljana, 20 November (STA) - The consumer confidence index rose 2 percentage points in October compared to the month before and 10 percentage points year-on-year. This is largely due to more optimistic expectations of consumers regarding employment in Slovenia in the next 12 months, the Statistics Office said on Friday.

In spite of the increase in the index, it still stands 4 percentage points below last year's average.

In September, the consumer confidence reached its highest point since October 2008, while in October it back to levels seen during the summer months of 2009.

The rise in consumer confidence indicator for this month is mostly attributed to the index measuring expectations of consumers about employment in next 12 months, which increased the most, by 13 percentage points.

Nevertheless, employment expectations were still 21 percentage points below last year's average.

Asked about their expectations regarding unemployment in Slovenia in the next 12 months, 70% of the respondents said they expected it to rise, 18% said it would stay flat, while 12% said it would decrease.

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