Austria: Consumer sentiment remains deeply pessimistic in December
Consumer sentiment came in at minus 30.0 in December, matching November’s reading. As such, the index remained entrenched below the 0-point threshold, signaling stark pessimism among Austrian consumers.
Looking at the details of the release, consumers’ views regarding the general economic situation in both the past and coming 12 months improved slightly from November. This was offset by a further deterioration of consumers’ views regarding their financial situations in both the past year and the year ahead.
More positively, households’ views on their current financial situations improved marginally from November. Meanwhile, expectations of unemployment and price developments for the coming year were somewhat better. Households reported a slightly increased likelihood of saving at present and in the coming 12 months. They also reported more aversion towards large purchases during the next year compared with November.