Wednesday, May 21, 2014 - 15:49
Big boost in consumer confidence; nears pre-crisis levels
The state of consumers has improved from April to May this year according to the Central Bureau of Statistics (CBS). Consumer trust has risen, and they are also gaining confidence in the economy. Trust amongst consumers rose by 3 percent, landing at -2, and has been rising steadily since the summer of 2013. It is now at the same level as at the end of 2007.The number of pessimists is only slightly larger than the number of optimists. The willingness to purchase was also bigger in May than in April, the CBS reports. Consumers were more willing to make big purchases such as televisions and washing machines. Consumers have been relatively positive about the general economic climate for the last three months. The improvement in May came due after the judgement in the last 12 months that the economy is back on the rise. Consumers went from lightly negative to carefully optimistic about their financial situation for the coming 12 months.