Austria: Consumer confidence deteriorates in August and reaches 13-month low
August 28, 2014
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.
Author: Ricardo Aceves, Senior Economist