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Austria Consumer Confidence January 2022

Austria: Consumer confidence rises in January

Consumer confidence rose to minus 8.0 in January from December’s minus 9.0. Consequently, the index continued to signal prevailing pessimism among consumers.

The uptick at the start of the new year was driven by less downbeat views on the financial situation of households and the general economic situation over the past 12 months. While attitudes towards the economic climate in Austria in the next 12 months also turned less gloomy, views regarding the financial situation of households in the same period turned more pessimistic.

Analysts at the EIU added:

“Domestic demand will grow solidly in 2022, with households benefiting from moderate wage growth and falling unemployment. Private consumption will also be supported by the continued unwinding of historically high savings accumulated in 2020.”

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