The consumer confidence indicator in Estonia improved to minus six in August from minus eight in July, the Estonian Institute of Economic Research (EKI) said on Friday.
Consumer confidence in Estonia improves in August
23rd August 2013, 20:24
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In August 2012 the indicator was minus eight, while the long-term average is minus nine.
Behind the growth are the improved expectations of the state's economic situation. Of respondents 33 percent believed Estonia's economic situation to be better in 12 months than it is now, 37 percent are expecting the situation to stay the same while 20 percent of respondents believe that the situation might get worse.
Estonians' expectations of their own household's situation 12 months from now slightly worsened: 51 percent of respondents believed the situation would remain the same, 21 percent were waiting for the situation to change and 23 percent were fearing that the economic situation of their family would worsen still.
Observing confidence levels of respondents from different social groups EKI found that confidence index increased in the last month among respondents with highest income while in other groups the index stayed on previous month's level or slightly decreased.