Compared to March, the residents’ expectations for the changes in the household’s financial situation were more optimistic, while their opinion about changes in the household’s financial situation over the last 12 months deteriorated, and they intended to spend a little less on the larger purchases.
In April, the residents’ opinion about changes in the household’s financial situation over the last 12 months was worse than in March: improvement was indicated by 26, deterioration – 21% (in March, 28 and 19% respectively).
The residents’ expectations for the household’s financial situation were slightly more optimistic: the proportion of those expecting improvement in the coming 12 months grew from 25% to 27%, as in March, 9% expected deterioration.
In April, 24% of population intended to spend more on such purchases as furniture or household appliances in the coming 12 months, compared to the last 12 months, 19% – expected to spend less (in March, 26 and 18% respectively).
Consumer confidence indicator in urban and rural areas
The consumer confidence indicators in urban and rural areas differed by 1 percentage point: in urban areas, the consumer confidence indicator stood at 5, in rural areas – at 6. Compared to the previous month, the consumer confidence indicator in urban areas decreased by 1 percentage point, in rural areas – increased by 1 percentage point.
Opinion of both urban and rural population about changes in the household’s financial situation over the last 12 months slightly deteriorated, and they intended to spend slightly less on the larger purchases than over in the last 12 months.
Expectations of the rural population for changes in the household’s financial situation were more optimistic than a month ago: the percentage of those expecting improvement in the coming 12 months grew from 25 to 31%.
Consumer confidence indicator, against the same period of the previous year
Over the year (April 2019, against April 2018), the consumer confidence indicator increased by 5 percentage points. The increase in the consumer confidence indicator was determined by more positive expectations for all its components, and the assessment of the changes in the household’s financial situation in the last 12 months had the biggest influence. Compared to the previous year, the proportion of population indicating improvement in the household’s financial situation over the last 12 month increased from 21% to 26%, while deterioration – decreased from 29% to 21%.
The proportion of population expecting improvement in the country’s economic situation in the coming 12 months grew from 32% to 36%.
Over the year, the proportion of population expecting deterioration in the household’s financial situation decreased from 15% to 9%, while 27% expected improvement (a year ago, 26%).
Assessment of changes in the last 12 months and the current situation
In April, 34% of population stated that the country’s economic situation improved, 12% – that it deteriorated in the last 12 months (in March, 36% and 22% respectively).
As regards current financial situation of the family, in April, 46% of population stated that they made some savings, 7% of population indicated living on savings or borrowings, 46% of population stated they did not make any savings (in March, 48,6% and 46% respectively).
44% of population expected to make at least some savings in the coming 12 months, 21% – did not expect to make any savings (in March, 47% and 16% 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 Population Register of the Republic of Lithuania.
The survey is partially funded by the EU.
