Austria: Consumer confidence deteriorates slightly in June
June 27, 2013
In June, the Fessel-GfK consumer confidence indicator edged down to minus 7 points from minus 6 points observed in May. As a result, the index remains below the 0-point threshold, which indicates that pessimists outnumber optimists.
The June survey reflects that households are slightly more pessimistic about the current economic situation and future economic prospects for the next 12 months compared to the previous month. In addition, consumers showed pessimism regarding their future financial prospects for the next 12 months. Moreover, a majority of respondents to the June survey expect an increase in unemployment in the year ahead, and consumers' willingness to buy big-ticket items in the next 12 months deteriorated.
FocusEconomics panellists expect private consumption to expand 0.7% this year, which is unchanged from last month's forecast. For 2014, panellists see private consumption rising 1.1%.
Author: Ricardo Aceves, Senior Economist