Consumer Confidence Down in October: IOBE

The consumer confidence index weakened again in October, according to the Foundation for Economic and Industrial Research (IOBE), falling to -47.6 points from -45.6 in September.

The report reveals that Greek consumers remain the most pessimistic in the European Union, far behind Estonia (-30.7) and Romania (-30.5).

Surprisingly, and in contrast to consumer confidence, the intention for major purchases increased, although savings sentiment weakened slightly. At the other end of the spectrum, Malta (+4.3) once again ranked as the most optimistic country for the fourth time in 2025, as its positive score indicates consumer confidence. The average consumer confidence indices stood at -13.5 in the EU and -14.2 in the Eurozone.

Consumers’ negative assessments of their household’s financial situation over the past 12 months worsened slightly to -50.1 (from -49.9). About 65% of households reported a mild or noticeable deterioration in their finances, while only 2% said they experienced a small improvement. Comparable figures for the EU and Eurozone were -10.8 points.

Consumers’ expectations for their household finances over the next 12 months became even more pessimistic in October, with the index dropping to -44.2 (from -39.8). About 58% of households expect a mild or significant deterioration (up from 54%), while 6% foresee a small improvement. In the EU and Eurozone, the figures were -4.1 and -4.3, respectively.

Consumers’ intention to make significant purchases (furniture, electrical appliances, etc.) in the next 12 months improved slightly, with the index rising to -41.6 (from -46.3). Some 51% (down from 53%) said they expect to spend less or much less, while 6% (up from 4%) expect to spend more. The corresponding European indices stood at -13.8 in the EU and -14.7 in the Eurozone.

The savings intention index declined slightly to -67.5 (from -65.9 in September). A significant 84% of households said they do not consider saving likely in the coming 12 months, while 15% found it likely or very likely. The related indices were +9.0 for the EU and +9.6 for the Eurozone.

Source: tovima.com