GKI’s consumer confidence index worsened a little in August

After taking a plunge in April, GKI’s consumer confidence index kept growing, although at a slower pace. In this period the index climbed back 60 percent from the April drop. Then in August expectations took a turn for the worse: the July value of -26.9 was followed by -29.6 in August. This was better than the -32.8 in June, but much worse than the pre-crisis -12.1 in March.

In April, pessimism increased the most in connection with the level of unemployment; three months of improvement followed in this respect, but August brought a worsening in expectations once again. Four months were only enough for the index to compensate for 54 percent of the big drop in April. //