Consumer confidence on the increase, moderate optimism

We have experienced an unparalleled economic crisis and the consequences have been difficult to predict. The Consumer Confidence Index makes it possible to forecast probable trends. FMCG retail data in the second quarter show signs of improvement: in 3 out of 4 European countries volume sales develop positively, compared with April-June last year. According to Nielsen, the global Consumer Confidence Index was up by 5 percent in June, compared with February 2009. In Hungary, we have started measuring the Consumer Confidence Index monthly. March’s 37-point index was the nadir, in July and August we measured 48 points. As consumer confidence grows, retail sales downturn is slowing down in Hungary. Generally, and in Hungary as well, the Consumer Confidence Index is above the average in the highest status group, those with higher income and qualifications. At the moment, the CCI index in Hungary is 65 among those with a net monthly income above HUF 100,000; it is 64 among Budapest dwellers, 61 among those with university or college degrees and 57 among those who earn a monthly net of HUF 75,000-100,000.