“Last year, the Romanian economy grew significantly. In the second quarter of 2015, the gross domestic product was 3.3 percent higher than at the same time in the previous year. Although economic expectation in the third quarter declined by 2.8 points to their current level of 18.5 points, compared with the same month last year, there has been a significant increase of nearly 15 points,” GfK said in a statement.
The growing economy also has a positive effect on citizens’ income expectations. In September, the related indicator was up by only 2.8 points at 21.3 points compared with June. Within comparison to the same month last year, however, the increase is a respectable 16 points.
Nonetheless, incomes usually suffice only to pay for everyday necessities. As a result, the willingness to spend in Romania is low. At -6.4 points, this continues to lie in the negative range, although an increase of 5.1 points was measured in comparison with June.
In the European Union, The Consumer Climate EU28 has dropped a half point in September to 10.3 points. Consumer mood in Europe was impacted in the third quarter by developments in Greece, the crises and wars in the Near and Middle East and refugee problems.
The findings of the GfK Consumer Climate Europe study are from a consumer survey that is conducted on behalf of the EU commission in all the countries of the European Union. Around 40,000 people a month are surveyed in the 28 countries.