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Retail

Slovenia October Consumer Confidence Lowest In Over 3 Years

Slovenian consumer confidence fell in October to the lowest level since July 2016 as consumers were more pessimistic about the economy and unemployment, the statistics office said on Wednesday.

The confidence indicator reached minus 13 points compared to minus 11 in the previous month and minus 7 a year ago, it said in a report.

"Consumers’opinion about the country’s economy declined most notably. Consumers are more pessimistic in expectations as well as when assessing the change over the past 12 months," the office said.

"Expectations about the country’s economy were the lowest since the first half of 2016," it added.

Consumer Confidence Indicator

The consumer confidence indicator is likely to pull down the business sentiment indicator to be published on Friday and reached the lowest level in over three years in September.

The office said consumer expectations on savings and the financial position of households improved a bit since the previous month.

The government expects the economy to expand by 2.8% this year versus 4.1% in 2018, boosted by exports, but analysts warn growth could be lower if global trade conflicts escalate.

Slovenia exports about 80% of its production, mostly to other EU states. Main exports include pharmaceutical products, cars, car parts and household appliances.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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