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Banking

Consumer confidence recovers slightly in October.

Consumer confidence recovers slightly in October. The consumer confidence index increased slightly to 91.56 in October from 91.36 a month earlier showed the survey carried out jointly by the central bank and the statistics institute. In January, the index stood at 101.7 but hit 88.6 in July that was the index’s lowest level recorded ever. A figure below 100 indicates pessimistic outlook. As far as main sub-indexes are concerned; the sub-index measuring consumers’ assessment of current economic outlook fell to 83.11 in October from 83.12 a month earlier. Consumers are less optimistic about the future; the sub-index measuring their assessment of economic conditions for the next three months declined to 85.82 from 85.92 in September. The employment prospects sub-index for the next six months fell sharply to 87.05 in October from 91.1 a month earlier. The sub-index for consumers’ assessment regarding their current purchasing power climbed to 83.5 from 82.4 in September.

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