Austria: Consumer sentiment worsens in September
Consumer sentiment in Austria sank from minus 2 in August to minus 4 in September, closing the third quarter on a sour note. September’s print marked the joint-lowest reading since March 2017.
The worsening of consumer confidence reflected a less rosy view on the economic situation over the past 12 months while the outlook on the Austrian economy in the next 12 deteriorated noticeably. Consequently, consumers considered the current time less suited to buy big ticket items. On the other hand, the outlook on the financial situation in the year ahead was unchanged while opinions regarding the current financial situation of households improved slightly. Austrian consumer became more likely to save now and in the next 12 months. This comes despite the increased dovishness from the European Central Bank.