Consumer Confidence Index has dropped in Georgia

Consumer Confidence Index has dropped in Georgia

Consumer Confidence Index has dropped in Georgia. The index is determined by ISET and it links the drop with “slow economic development of the country”. Representatives of the research institute think that the pace of GDP growth in February did not influence the consumer mood. “Seemingly, Georgia is economically depressed”, – is stated in the survey.

The consumer mood is more positive in Tbilisi, than in other regions of Georgia.

To find out the mood of the consumers, ISET used 12 questions, including those about financial situation, employment, inflation, savings, etc.

To the question whether the financial situation of the family has changed during the last 12 months, over 45% of the respondents answered negatively, and almost 15% said that it has worsened. 45% of the consumers thinks that financial situation of their families will not change within the next 12 month, 13% thinks that their financial situation may possibly worsen. 48% think that economic situation in the country has worsened during the last 12 months while 21% believes that the situation will worsen within the next 12 months.

Majority of the consumers thinks that during the last year the prices in the country have increased and 35% are sure that the prices will keep increasing during the next 12 months.

Respondents do not see the possibility of increasing of employment level, while 11,6% are sure that employment level will drop. 43% of the consumers are not going to make any savings within the next 12 months.

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