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Study shows very few Romanians are planning to buy a hour or car.

Indicators for family income and economic situation of the country give mild signs of recovery. If in April last year, almost 58% of respondents felt that their household's financial situation was worse than in 2011, only 49% of Romanian think the same one year away, while 20% of them expect even their situation to improve and 41% to remain as it is today. 12 percent say that they live better than in April 2012.Regarding the general economic situation of the country, the Romanians are more optimistic comparing with the previous years. Only two-thirds of them believe that the economy is not going well, while in April 2012 the percentage was higher by 8%. 47% of respondents do not see an improvement of the economic situation during the next period of time. There are still nearly 13 percent of them who hope for a recovery.However, eight out of ten Romanians believe there is not a favorable time to put away, both now and during the next year. Therefore, the intention of purchasing durable goods is very low. Only 3% of them plan to buy or build a house in the following year and only 6% to purchase a car. These are some of the lowest rates recorded for these two indicators of the Consumer Confidence Barometer so far. A slightly higher number of respondents, almost 18%, still want to invest in home improvement works.Romanians are not optimistic about inflation. Eight out of ten believe that prices were higher than a year ago, three quarters of them estimate that they will increase during 2013.People are also insecure when it is about the job stability: 68% believe that unemployment will rise this year, a slight decrease compared to April 2012, when 70% thought the same thing."The severe reduction of Romanians' appetite for further major investments highlighted by the Consumer Confidence Barometer findings confirms the results of other GfK studies which show that people invest less and less in durable goods, especially consumer electronics. People's worries about the rising prices and lack of confidence in the stability of employment market are other expected reactions in the context of deepening economic crisis, "said Andi Dumitrescu, General Manager GfK Romania.The information comes from the Consumer Confidence Barometer, a study financed by the European Commission and conducted monthly by GfK Romania for over 12 years. The data are representative for Romania's population aged 15 and over, the sample being of 1,000 people. GfK
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Publication:Balkan Business News
Geographic Code:4EXRO
Date:Jun 7, 2013
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