GfK: Romanian confidence in economy prospects increased in 2014

2014 was the best year since the beginning of the crisis for the Romanian confidence in financial and economic prospects, incomes were stable, while the number of people who say their family financial situation was more difficult than in 2013 is dropping, GfK shows.

2015-01-28 11:41:31

"It is for the first time in the last 7 years when the percentage of people who have confidence in the country's economic future exceeds that of the distrustful. The conclusion of an intense election year and prospects of global economic recovery determine the Romanians to hope for a better future," said Andi Dumitrescu, CEO of GfK Romania.

Four out of ten Romanians say the general state of economy went down last year compared to 2013, against 6 out of 10 Romanians who considered the same thing for 2013 compared to 2012.

According to GfK, a third of Romanians expect economy to go better in 2015 and only 20 per cent worse. A third of Romanians said in December that the financial situation of their families was more difficult 12 months earlier, while 16 per cent thought it was better. The situation knows an improvement compared to 2013, when 44 per cent of people saw personal finances in deficit.
A third of people interviewed said in 2013 that financial prospects would be worse while 21 per cent were optimistic. The percentage of people who thought the budget situation would be stable in the future grew compared to 2013, from 43 per cent to 47 per cent.

In December 2014 the perception on the evolution of inflation was better than in 2013. About 4 out of 10 Romanians think prices were higher in 2014 than in 2013, against 67 per cent who thought the same thing in 2013.

Prospects about unemployment are better than in previous years. There were 58 per cent pessimists in 2014 against 66 per cent in 2013 and 63 per cent in 2012.
When it refers to investments in goods of long use, the number of people who considered in December it was not a good moment to make them was on the drop compared to 2013, 49 per cent of Romanians saying they did not intend to buy an important object for their household for the next year, against 52 per cent.

The attitude towards saving was relatively constant, only 20 per cent of Romanians considering it is a good period to save, while 59 per cent say their incomes can hardly cover current expenses. At the same time the number of those who say they have debts is slightly dropping, being at 16 per cent compared to 19 per cent in December 2013 and 2012.

The data come from the Consumer Confidence Barometer, a study co-financed by the European Commission and made by GfK Romania on a monthly basis. Data are representative for Romania s population aged over 15, on a sample of 1000 people.

The general index measured by the Barometer made by GfK for EC reached an annual average of -28.6 in December 2014.