Consumer confidence recovers in August
Following a downward blip in July, consumer sentiment recovered again in August.According to the ongoing EMCS consumer monitor, sentiment stood at -13.36, from -17.04, still reflecting negative opinions, but far better than in previous months.July was...
Following a downward blip in July, consumer sentiment recovered again in August.
According to the ongoing EMCS consumer monitor, sentiment stood at -13.36, from -17.04, still reflecting negative opinions, but far better than in previous months.
July was marred by the closure of two factories, leading respondents to fear further developments in similar companies in the near future when that may not be the case. The overall drop in sentiment was rather a lagging indicator which generally follows such events. Indeed, in this regard respondents were less pessimistic in August as people's fears subsided. In reply to other questions more people said they believed that prices had been increasing over the past 12 months. This view has been rising since May.
Similarly, more respondents expect prices to go up over the coming 12 months, mainly due to the changeover to the euro.
Following months of improvement, the sub-index representing respondents' intentions to make major purchases now has also deteriorated, possibly because of perceived higher prices.
On the other hand, in August, fewer respondents were pessimistic on their ability to save at present when compared to July. Correspondingly, fewer respondents were negative when asked about their outlook on saving ability.
Interestingly the consumer confidence index in August 2007 was equal to August 2003 and the index never reached such 'elevated' levels except for June 2007.
The consumer survey is carried out on a monthly basis by EMCS Ltd, a leading business and economics consultancy company. The Consumer Confidence Index is financed by the European Commission.
For further information contact Caroline Sciortino through e-mail: caroline.sciortino@emcs.com.mt or tel: 2134 1848.
According to the ongoing EMCS consumer monitor, sentiment stood at -13.36, from -17.04, still reflecting negative opinions, but far better than in previous months.
July was marred by the closure of two factories, leading respondents to fear further developments in similar companies in the near future when that may not be the case. The overall drop in sentiment was rather a lagging indicator which generally follows such events. Indeed, in this regard respondents were less pessimistic in August as people's fears subsided. In reply to other questions more people said they believed that prices had been increasing over the past 12 months. This view has been rising since May.
Similarly, more respondents expect prices to go up over the coming 12 months, mainly due to the changeover to the euro.
Following months of improvement, the sub-index representing respondents' intentions to make major purchases now has also deteriorated, possibly because of perceived higher prices.
On the other hand, in August, fewer respondents were pessimistic on their ability to save at present when compared to July. Correspondingly, fewer respondents were negative when asked about their outlook on saving ability.
Interestingly the consumer confidence index in August 2007 was equal to August 2003 and the index never reached such 'elevated' levels except for June 2007.
The consumer survey is carried out on a monthly basis by EMCS Ltd, a leading business and economics consultancy company. The Consumer Confidence Index is financed by the European Commission.
For further information contact Caroline Sciortino through e-mail: caroline.sciortino@emcs.com.mt or tel: 2134 1848.