GfK: Major acquisitions remain almost impossible for most Romanians

Romanians are optimistic about the economic growth and wages, but the standard of living remains very low, incomes allowing only ensuring daily needs, so that major acquisitions remain almost impossible for most people, according to research conducted by GfK.
The conclusions are included in the GfK Consumer Climate Europe survey for Q2 2015.
“Romanian consumers still expect a positive growth. Although economic forecasts declined by 1.1 points to 21.3 points in the current second quarter, there was a significant gain of nearly 32 points as compared with June 2014. According to economic conditions, the Romanians still expects a slight increase in wages. The economic outlook recorded 18.5 points in June. However, the standard of living in the countries of Eastern Europe continues to be very low. Revenues are just enough to allow employees to pay their daily needs. Therefore, it is no surprise that the purchasing trend remains within the negative range with -11.5 points, although it increased by 4.7 points in the second quarter. Major purchases remain almost impossible for most Romanians,” a company release informs.
The study shows that the negotiations between Greece and its creditors clearly influenced the mood of consumers in most European countries in Q2 this year. But, especially in Eastern Europe, as the crisis between Russia and Ukraine also plays an important role. However, GfK consumer climate rose by 1 point in total in March to 10.8 points.

In its April release, GfK said the positive evolution of wages and lower inflation rate, compared to the previous year, led to increased purchasing power. These trends have a noticeable impact in business also, according to GfK Pulse research study which analyzes the evolution of the technological goods and FMCG markets, and also the main macroeconomic trends in 2014.
The long-lasting goods market closed the last quarter of 2014 with a sales value of EUR 723 million – an increase of nearly 14 percent, compared to the same period of 2013.
The climate is favorable for consumption. Extra income per household is more likely to be spent than to be intended for savings. Even with a higher spending budget, consumers will continue to focus on prioritizing the procurement strategy to exploit the available finances.