The public confidence level in Romania recorded an average increase over the first quarter of this year, to an index of -46 from -54, which was the average last year, according to the Barometer of Consumer Confidence conducted by GfK for the European Commission. The index stood at -48 in the first quarter of last year, so Romanians seem to be more confident this year.

According to the study, 43 percent of the respondents expect their financial situation to worsen in the next 12 months, compared to 50 percent last year, while 36 percent expects to remain the same. Almost 84 percent said that the general state of the economy declined in the last 12 months, while expectations for next year are somehow higher, only 56 percent of them declaring themselves pessimistic.

Confidence in job stability has also seen a slight rebound, reaching the highest levels since the starting of the crisis in Romania. 73 percent think the unemployment rate will rise, while almost 7 percent even anticipate a decrease. However, more than 8 in 10 Romanians say that they not intend to put money aside in the next year, a situation that has not changed very much compared with the average of 2010. More than two thirds believe that it is not a good time to invest.

The data presented in the GfK study are representative for Romania's population aged 15 years and over, the sample being of 1,000 people interviewed each month. More about the study here.

Irina Popescu, irina.popescu@romania-insider.com