Nielsen: Romania among European countries with biggest consumer confidence growth

Romania is among the European countries with the biggest hike in consumer confidence in the second quarter of 2017, Nielsen Consumer Confidence Index Q2 2017 shows.

According to the study, consumer confidence is increasing on the back of a positive trend of optimism on the global markets. The signs of improvement were felt in the second quarter of 2017, reaching an index level of 104, up by 3 percent compared to the last quarter of 2016.

At a global level, consumer confidence increased by 3 percent compared to the last quarter of 2016, posting an index level of 104. The confidence indexes increased compared to the last quarter of 2016 in 41 of the 63 markets surveyed through the online poll.

Romania went up in the previous two quarters of 2017 by 15 percent to an index level of 101, being one of the European countries with the biggest increase in consumer confidence. Across Europe, consumer confidence follows a growing trend for the ninth consecutive quarters, with 22 out of 33 countries showing growth, up to a regional score of 85.

In Eastern Europe, consumer sentiment has improved on a number of markets, including Slovenia (74, up by 11 points), Estonia (83, up by 11 points) Bulgaria (85, up by 10 points), Latvia (up by 10 points to 78), Hungary (up to 6 percent to 70 points) and Ukraine (57 points). Despite a decline of 4 percent compared to the last quarter of 2016, the US recorded an index level of 117, maintaining thus its top position in the ranking.

Increased confidence in Romania is due to a 16 percent increase in the number of respondents who consider their work prospects to be good or excellent, from 35 percent in Q4 last year to 51 percent in Q2 2017. Confidence in personal finances increased 12 percent (up to 70 percent), while 12 percent more respondents (up to 45 percent) consider that the next 12 months are a good time to buy the things they want.

“Consumer confidence at a global level shows a number of reasons for optimism, and there is a continuous improvement in sentiment on many global markets,” said Suresh Ramalingam, consumer insights lead at Nielsen.