Changes in the consumer confidence indicator and its components
In March, against February, the percentage of residents expecting improvement in financial situation in the coming 12 months increased from 19 to 21%. 18% of residents expected the situation to deteriorate (in February, 19%).
As in the previous month, 29% of residents expected the country's economic situation to deteriorate in the coming 12 months, 24% – to improve (in February, 23%).
In March, against February, the percentage of residents expecting the number of the unemployed to increase in the coming 12 months grew from 34 to 38%. 21% of residents expected the number of the unemployed to decrease.
34% of residents expected to make at least some savings in the coming 12 months, while 27% of residents stated that they did not expect to make at least some savings at all (in February, 33 and 26% respectively).
Consumer confidence indicator in urban rural areas
Consumer confidence indicators in urban and rural areas differed by 3 percentage points (ppt): in urban areas, it stood at minus 9, in rural areas – at minus 12. Against the previous month, the consumer confidence indicator in urban areas increased by 1 ppt in rural areas – decreased by 1ppt.
Expectations of urban population for household financial situation were more optimistic than a month ago: the percentage of those expecting an improvement in household financial situation in the coming 12 months increased from 19 to 23 %, the percentage of those expecting to make at least some savings – from 34 to 36%. Against February, the percentage of those expecting an improvement in the country's economic situation decreased from 24 to 22%.
Expectations of rural population for changes in unemployment figures and household's financial situation were a bit more pessimistic. Against February, percentage of rural population expecting an increase in the number of the unemployed in the coming 12 months increased from 35 to 45%, an improvement in household's financial situation – decreased from 20 to 17%.
The percentage of rural population expecting an improvement in the country's economic situation in the coming 12 months grew from 21 to 27%.
Consumer confidence indicator, against the same period of the previous year
Over the year (March 2017, against March 2016), the consumer confidence indicator decreased by 3 ppt . Opinion of residents about the expected changes in the country's economic situation considerably changed. The percentage of population expecting the country's economic situation to deteriorate in the coming 12 months increased from 23 to 29%, the number of the unemployed to increase – from 30 to 38%. The resident's expectations in terms of making at least some savings slightly deteriorated: the percentage of those expecting to make at least some savings in the coming 12 months decreased from 36 to 34%.
Assessment of changes in the last 12 months and the current situation
In March, as in February, 12% of the population stated that their household's financial situation in the last 12 months improved. The percentage of those stating that their household's financial situation deteriorated increased by 3 ppt (from 38 to 41%).
Assessment of changes in the country's economic situation in the last 12 months given by the residents was slightly worse than in February: 15% of the population stated that in the last 12 months the situation improved, 48% – that it deteriorated (in February, 4 %).
As regards the current financial situation of their family, each third resident (33%) indicated that made some savings (in February, 34%), 13% – indicated living on savings or borrowings (in February, 10%).
In March, 27% of the population planned in the coming 12 months to increase their expenditure on such purchases as furniture or household appliances, while each fifth resident expected to spend less than in the last 12 months (in February, 25 and 23% respectively).
The annex to the news release contains information on changes in the consumer confidence indicator and its components (answers to questions used to compile the indicator). Respective information on other EU countries is available on the European Commission's website.
The consumer opinion survey is conducted on the 1st–15th days of each month by interviewing 1 200 individuals randomly sampled from the Residents' Register of the Republic of Lithuania. The consumer confidence indicator refers to the simple arithmetic mean of the balances of positive and negative answers to four questions.
