Austria Consumer Confidence


Consumer confidence deteriorates in August and reaches 13-month low

The consumer confidence indicator produced by the Fessel-GfK Institute fell from July’s minus 8 points to minus 11 points in August, marking the lowest level since July 2013. Consequently, the consumer confidence index remains firmly entrenched below the 0-point threshold, which indicates that pessimists outnumber optimists.

August’s result reflects households’ more pessimistic views regarding the country’s future economic situation. Consumers’ assessment of their future financial situations was virtually unchanged compared to the previous month and their opinions concerning the unemployment prospects deteriorated compared to July. Conversely, consumers’ willingness to buy big-ticket items in the next 12 months improved over the previous month.

FocusEconomics Consensus Forecast participants expect private consumption to expand 0.6% in 2014, which is down 0.1 percentage points from last month’s forecast. For 2015, panelists see private consumption rising 1.2%.

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Austria Consumer Confidence Chart

Austria Consumer Confidence August 2014

Note: Fessel-GfK Consumer Confidence Index. The 0-point threshold separates optimistic from pessimistic sentiment.
Source: The Fessel-GfK Institute

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