Analytics, Economics, Lithuania, Society, Stability, Statistics

The Department of Statistics reports that consumer sentiment index stood at -47 in August 2009, a decrease of 4% compared to the previous month.

In August, 3% of residents said that their financial situation improved over the past year, 63% of those polled stated that it worsened and 34% said that their financial situation remained unchanged (in July – 4%, 58 % and 38% respectively). The surveys show that in July 9% of respondents expected their household financial situation to improve in the coming 12 months, and 52% forecasted that the situation would get worse (9% and 49% in July). Among those polled 32% said they did not expect their financial situation to undergo any changes in the upcoming year.

When evaluating the economic situation in the country, 90% of respondents said that it worsened over the past year, but 1% indicated that the situation improved, and 8% said that the economy had been stable over the past twelve months (in July, these figures were 89, 1, and 9%.

This month 11% of respondents expected the overall economic situation in the country to improve in the coming 12 months, 63% predicted a deterioration and 21% of those polled said that the general economic situation in the country would remain stable (in July – 13, 58 and 25% respectively).

In August, 91% of residents projected an increase in unemployment over the following 12 months. This figure stood at 88% in July.

Consumer sentiment in urban and rural areas did not differ in August. Compared to July, it fell by 3% in the urban areas and 5% points in the rural areas.

Over the year, compared to August 2008, the consumer sentiment index slumped 20% points.