Austria Consumer Confidence July 2016


Consumer confidence reaches two-year high in July

The consumer confidence index elaborated by Fessel-GfK improved further in July after having increased in June. The indicator increased from June’s minus 9 points to minus 8 points in July. Although this marks the highest result in two years, the index is still firmly entrenched below the 0-point threshold that indicates that pessimists outnumber optimists. The index has been below zero since 2011.

July’s result mainly reflected households’ more optimistic assessments regarding the current health of the economy. The survey also showed that consumers were less concerned about future unemployment levels and were more confident that they could increase their savings in the next 12 months. Conversely, their opinions on their future financial situations deteriorated over the previous month.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.4% in 2016, which is unchanged from last month’s forecast. For 2017, panelists see private consumption rising 1.3%.

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Austria Consumer Confidence Chart

Austria Consumer Confidence July 2016 0

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

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