Consumer Confidence Down in October: IOBE
In contrast to consumer confidence, the intention for major purchases increased, although savings sentiment weakened slightly.
The consumer confidence index weakened again in October, according to the Foundation for Economic and Industrial Research (IOBE), falling to -47.6 points from -45.6 in September.
The report reveals that Greek consumers remain the most pessimistic in the European Union, far behind Estonia (-30.7) and Romania (-30.5).
Surprisingly, and in contrast to consumer confidence, the intention for major purchases increased, although savings sentiment weakened slightly. At the other end of the spectrum, Malta (+4.3) once again ranked as the most optimistic country for the fourth time in 2025, as its positive score indicates consumer confidence. The average consumer confidence indices stood at -13.5 in the EU and -14.2 in the Eurozone.
Consumers’ negative assessments of their household’s financial situation over the past 12 months worsened slightly to -50.1 (from -49.9). About 65% of households reported a mild or noticeable deterioration in their finances, while only 2% said they experienced a small improvement. Comparable figures for the EU and Eurozone were -10.8 points.
Consumers’ expectations for their household finances over the next 12 months became even more pessimistic in October, with the index dropping to -44.2 (from -39.8). About 58% of households expect a mild or significant deterioration (up from 54%), while 6% foresee a small improvement. In the EU and Eurozone, the figures were -4.1 and -4.3, respectively.
Consumers’ intention to make significant purchases (furniture, electrical appliances, etc.) in the next 12 months improved slightly, with the index rising to -41.6 (from -46.3). Some 51% (down from 53%) said they expect to spend less or much less, while 6% (up from 4%) expect to spend more. The corresponding European indices stood at -13.8 in the EU and -14.7 in the Eurozone.
The savings intention index declined slightly to -67.5 (from -65.9 in September). A significant 84% of households said they do not consider saving likely in the coming 12 months, while 15% found it likely or very likely. The related indices were +9.0 for the EU and +9.6 for the Eurozone.
Source: tovima.com
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