On the other hand, the index is 0.3 index point higher than the same period of the previous year. The Present Situation Index positively affected the Consumer Confidence Index, while the Expectation Index had a negative impact in the fourth quarter of 2013 (Table 1).

Consumers’ perceptions on their present personal financial situation improved, as 14.8 percent of respondents revealed that their personal financial situation had worsened, compared to 19.5 percent in the third quarter of 2013. This same development is seen at both the present business and economic conditions (where 21.8 percent of the respondents indicated deterioration in the fourth quarter versus 26.8 percent in the third quarter) and the government’s financial position (28.5 percent pointed out a worsening in the fourth quarter versus 29.3 percent in the third quarter).

Consumers tended to be more on a neutral level with regard to future expectations, as they indicated that their personal financial situation, the business and economic conditions, as well as the government’s financial position will stay the same in the near future. On the other hand, consumers’ outlook on the labor market in the present situation was more pessimistic in the fourth quarter than the third quarter of 2013. Finally, consumers reported that it was not prudent to purchase a car (60.3 percent), some major appliances (47.8 percent) or to go on vacation (39.5 percent).