Lithuanian consumer outlook improves

VILNIUS - The Consumer Confidence Rate index for Lithuania stood at minus 9 in May, marking the highest level for the last five years, reports ELTA. According to the data at Statistics Lithuania, the Consumer Confidence Rate increased by 2 percent compared to April. An improving outlook for the country’s economic perspectives had the biggest influence on the confidence growth.

In May, 14 percent of residents said that the financial situation in their household had improved over the last 12 months; 28 percent said that it had declined, 58 percent claimed that it had remained the same (for April, respectively, it was 13 percent, 32 percent and 55 percent).

Evaluating the changes in their family’s financial situation for the next 12 months, 21 percent of respondents hoped that it would improve, 15 percent thought that it will decline (for April, respectively, it was 20 percent and 18 percent), 60 percent of residents thought that the financial situation of their household will not change over the next years.

Evaluating the economic situation, 23 percent of residents claimed that it had improved over the last year, 31 percent claimed that it had declined, 45 percent said that it had remained the same (for April, respectively, this was 19 percent, 32 percent and 49 percent). With respect to the future, 33 percent of residents thought that the economic situation of the country will slightly improve during the next 12 months, 18 percent of residents thought it will decline, 45 percent of residents said that the situation will remain the same (in April, respectively, this was 30 percent, 23 percent and 43 percent).