GfK: Economic estimates in Romania are moderate despite the good financial conditions

Newsroom 09/02/2017 | 13:11

Although the Romanian industry has shown a significant growth in 2016, in the fourth trimester of the year the economical assessments regarding the Romanian consumers decreased with almost 8 point comparing to the same period of 2015, according to GfK’s consumer climate.

The indicator stopped at 3 points in December, in contrast with the 10 points obtained a year ago.

The Romanians’ estimated revenues suffered a slow decrease in the year’s fourth trimester and the indicator dropped to values of over a point to over 19 points in September and December. Year-on-year it represents a growth of 4.5 points.

The strong general level is due partially to the unemployment rate. According to the European Commission, it stopped at 6 percent and was at its lowest level in the last eight years (the fourth trimester of 2008: 5.7 percent).

In March 2016, the spending tendency grew at 3.5 points, passing again on a positive territory, for the first time after October 2008. The indicator grew constantly until November when it reached 10.5 points (the biggest value since August 2008). At the end of the year though it dropped significantly, with 12.5 points, up to -2 points.

Overall, consumer confidence in Europe experienced very positive growth in the fourth quarter of 2016. The GfK consumer climate for the 28 EU countries rose by 5.6 points to 17.9 points in December, its highest value since January 2008. Over the year, the individual indicators – economic and income expectations and propensity to buy – did not develop uniformly.

Romanita Oprea