Download the graphic presentation: EN_23.09.2026 Newmoney.ro – INSCOP INDEX Report
The ESI shows a marginal improvement, rising from −39.5 points to −38.1 points. Beyond this very slight improvement, the figure shows that economic sentiment remains entrenched in negative territory.
On Wednesday, September 23, the launch of the second edition of the sociological study “Newmoney.ro – INSCOP Economic Sentiment Index” took place during a debate hosted in the Virgil Madgearu Hall of the Bucharest University of Economic Studies. The event was attended by Leonardo Badea, First Deputy Governor of the National Bank of Romania, Daniel Dăianu, President of the Fiscal Council, Florin Jianu, President of the National Council of SMEs in Romania (IMM România), Marius Profiroiu, Vice-Rector of the Bucharest University of Economic Studies, as well as representatives of business organizations and entrepreneurs. The sociological study was conducted by INSCOP Research at the request of Newmoney.ro, in partnership with Informat.ro and the Strategic Thinking Group think tank.
The Newmoney.ro – INSCOP Economic Sentiment Index (ESI) is a sociological research program designed to periodically measure Romanians’ economic perceptions, expectations, and behaviors through nationwide surveys conducted by INSCOP Research. The ESI periodically measures how people perceive their economic situation, their expectations regarding its evolution, and their willingness to make major economic decisions.
How the Index is calculated: The ESI indicators are calculated based on the balance between positive and negative responses. The percentage of favorable opinions is reduced by the percentage of unfavorable opinions, resulting in a theoretical scale ranging from −100 to +100. Zero represents a balance between positive and negative perceptions. Values above zero indicate a predominance of favorable sentiment, while values below zero indicate a predominance of unfavorable sentiment. The methodology is aligned with international practices used in research on consumer confidence and economic sentiment.
Methodology: The data were collected between September 1 and 7, 2026. Research method: questionnaire-based interviews. The data were collected using the CATI method (telephone interviews), with a simple random sample of 1,100 respondents, representative of the Romanian non-institutionalized population aged 18 and over in terms of the main socio-demographic categories (gender, age, and occupation). The maximum margin of error is ±2.95%, at a 95% confidence level.
Remus Ștefureac, Director of INSCOP Research: “The ESI shows a marginal improvement, rising from −39.5 points to −38.1 points. On a scale from −100 to +100, this shows that, beyond a very slight improvement, economic sentiment remains entrenched in negative territory. Between June and September, the overall Index changed very little. Therefore, we are not witnessing a change in the economic climate, but rather a stabilization of an already established state of distrust in the economy.
The September data and the comparison with June 2026 show that we are entering a phase of ‘normalization of economic uncertainty.’ This does not mean that people consider the situation normal or acceptable, but rather that they are beginning to adapt their decisions to the assumption that difficulties will persist. This is a classic rational response of adaptation and resilience to uncertainty: households appear to be calibrating their decisions for resilience rather than for a rapid recovery.
The only signal of improvement comes from expectations regarding income. Romanians view the next six months somewhat less pessimistically than they did in June, without this change being accompanied by a comparable improvement in their current economic experience.
Perceived inflation remains the hard core of economic pessimism. Expectations of rising prices are nearly universal and show no signs of easing. Even though income expectations have improved slightly, the population continues to believe that purchasing power will remain under pressure.
The data also reveal an apparent paradox: pessimism persists, but the intention to take economic action is increasing. Romanians more frequently report intentions both to save and invest, as well as intentions to make major purchases. This does not necessarily mean a return to optimism, but rather the beginning of behavioral adaptation to an economic environment perceived as difficult and persistent. The increase in purchase intentions does not contradict this picture; instead, it may indicate a shift toward more selective and carefully prioritized consumption.
Economic pessimism concerns not only the present, but also the perceived duration of the difficulties. For a large share of the population, recovery is either pushed into the distant future or disappears altogether from the foreseeable horizon. What is emerging, therefore, is not only a lack of optimism, but also a lack of an economic outlook.”
Income trends over the past year
12.2% of Romanians (compared with 10.9% in June 2026) say their incomes increased over the past 12 months. 44.5% (compared with 45.4% in June 2026) say their incomes remained at the same level, while 42.3% (compared with 41.1% in June 2026) say they decreased. The non-response rate is 1% (compared with 2.6% in June 2026).
Income increases are reported at above-average rates by PNL and USR voters, respondents under 30, those with higher education and private-sector employees.
PSD and AUR voters and women are more likely than respondents overall to say their incomes remained at the same level.
Income decreases are reported at above-average rates by AUR voters, respondents aged 60 and over and those with primary education.
Expectations for household income over the next six months
16.3% of survey participants (compared with 11.5% in June 2026) believe their household income will increase over the next six months. 45.1% (compared with 41.6% in June 2026) expect it to remain unchanged, while 34.7% (compared with 37.7% in June 2026) expect their income to decrease. 3.9% (compared with 9.2% in June 2026) do not know or did not answer.
Respondents under 30 and those with primary education expect household income to increase at above-average rates.
PSD and AUR voters, women, respondents aged 30–44, those with higher education, residents of Bucharest and large urban areas, and public-sector employees are more likely than the population overall to expect household income to remain at the same level.
AUR voters, men and respondents aged 45 and over expect incomes to decrease at above-average rates.
Expectations regarding price developments
86.1% of respondents (compared with 84.5% in June 2026) believe prices will increase over the next six months. 7.9% (compared with 8.5% in June 2026) expect prices to remain stable, while 4.3% (compared with 3.8% in June 2026) believe they will decrease. The non-response rate is 1.8% (compared with 3.1% in June 2026).
USR voters and public-sector employees expect prices to increase at higher rates than the population overall.
PNL voters are more likely than average to expect prices to remain stable.
Respondents under 30 anticipate a decline in prices at above-average rates.
Purchase intention: government bonds
7.3% of respondents (compared with 5.2% in June 2026) say they intend to buy government bonds over the next six months, while 91.7% (the same as in June 2026) say they do not. 1% (compared with 3.1% in June 2026) do not know or did not answer.
PNL and USR voters, respondents with higher education and residents of Bucharest intend to buy government bonds at above-average rates.
Respondents with primary education are more likely than the population overall to say they do not intend to buy government bonds.
24.1% of Romanians (compared with 17% in June 2026) say they intend to buy euros over the next six months. 73.8% (compared with 81.4% in June 2026) say they are not considering such a purchase. The non-response rate is 2.1% (compared with 1.6% in June 2026).
PNL and USR voters, men, respondents under 30, those with higher education, residents of large urban areas, Instagram users and public-sector employees intend to buy euros at higher rates than the population overall.
Respondents aged 60 and over and those with primary education are more likely than average to say they do not intend to buy euros.
Intention to save in a bank deposit
27.4% of survey participants (compared with 20.6% in June 2026) say they intend to save Romanian lei in a bank deposit over the next six months. 71.8% (compared with 78% in June 2026) say they do not intend to do so. 0.8% (compared with 1.4% in June 2026) do not know or did not answer.
PNL and USR voters, men, respondents under 30, those with higher education, residents of large urban areas and Instagram users intend to save money in a bank deposit at above-average rates.
AUR voters and respondents aged 45–59 are more likely than the population overall to say they do not intend to do so.
15.4% of respondents (compared with 9.5% in June 2026) say they intend to buy a car over the next six months. 84.1% (compared with 89.9% in June 2026) say they are not considering such a purchase. The non-response rate is 0.5% (compared with 0.6% in June 2026).
Respondents under 30 intend to buy a car at a higher rate than average.
Respondents aged 60 and over and residents of large urban areas are more likely than the population overall to say they do not intend to buy a car.
Purchase intention: household appliances / furniture
34.1% of respondents (compared with 23.6% in June 2026) say they intend to buy household appliances or furniture over the next six months. 64.4% (compared with 75.3% in June 2026) say they do not intend to do so. 1.5% (compared with 1.1% in June 2026) do not know or did not answer.
USR voters, respondents aged 18–44, residents of Bucharest, Instagram users and private-sector employees intend to purchase household appliances or furniture at above-average rates.
AUR voters, women, respondents aged 60 and over and residents of large urban areas are more likely than the population overall to say they do not intend to make such purchases.
11.3% of Romanians (compared with 8.7% in June 2026) say they intend to buy a home (studio, apartment or house) over the next six months. 88.6% (compared with 91.2% in June 2026) say they are not considering such a purchase. The non-response rate is 0.1% (the same as in June 2026).
Respondents under 30, men, residents of Bucharest and TikTok users intend to buy a home over the next six months at above-average rates.
Respondents aged 60 and over and public-sector employees are more likely than the population overall to say they do not intend to buy a home over the next six months.
Perceived control over one’s own economic situation
8.3% of survey participants (compared with 10.9% in June 2026) feel they have a very high degree of control over their economic situation in the years ahead. 28.5% (compared with 25.5% in June 2026) say they have a fairly high degree of control, 30.8% (compared with 28.8% in June 2026) a fairly low degree of control, while 29.2% (compared with 30% in June 2026) say they have very little or no control at all. 3.2% (compared with 5.2% in June 2026) do not know or did not answer.
PNL and USR voters, men, respondents aged 18–44, those with higher education, Instagram users and public-sector employees are more likely than the population overall to feel they have control over their economic situation.
AUR voters and respondents aged 45 and over are more likely than average to feel they have little or no control over their personal economic situation.
9.4% of Romanians intend to spend more over the next six months compared with the present (2.4% much more and 7% somewhat more), 33% intend to spend about the same, while 56.4% intend to spend less (30.7% somewhat less and 25.7% much less). 1.1% do not know or did not answer.
Respondents under 30 and residents of large urban areas intend to spend more over the next six months at higher rates than the population overall.
PSD and USR voters, respondents under 30, those with higher education, residents of Bucharest and private-sector employees are more likely than average to say they intend to spend about the same over the next six months.
AUR voters, respondents aged 45–59, those with primary education, rural residents and public-sector employees intend to spend less over the next six months at above-average rates.
Expected improvement in the economic situation
4.3% of respondents believe people will begin to feel a clear improvement in the economic situation within the next six months, 6% within 6–12 months, 15.9% in 1–2 years, and 17.1% in more than two years. 51.2% do not believe the situation will improve in the foreseeable future, 5.2% do not know, and 0.2% did not answer.
PNL voters are more likely than the population overall to believe that people will feel a clear improvement in the economic situation within the next 6–12 months.
USR voters, respondents under 30, those with higher education and public-sector employees are more likely than the sample average to believe that people will feel an improvement in the economic situation in 1–2 years.
PNL and USR voters, men, respondents under 30 and those with higher education are more likely than average to believe that people will begin to feel a clear improvement in the economic situation in more than two years.
AUR voters, women, respondents aged 30–59, those with primary education and rural residents are more likely than the population overall to say they do not believe the economic situation will improve in the foreseeable future.
Download the graphic presentation: EN_23.09.2026 Newmoney.ro – INSCOP INDEX Report
