Austria: Consumer confidence deteriorates to two-year low in September
September 29, 2014
The consumer confidence indicator produced by the Fessel-GfK Institute fell from August’s minus 11 points to minus 13 points in September, marking the lowest level since September 2012. The consumer confidence index remains firmly entrenched below the 0-point threshold, which indicates that pessimists outnumber optimists.
September’s result reflects households’ significantly more pessimistic views regarding the country’s future economic situation. Consumers’ assessment of their future financial situations was roughly the same compared to August, although their opinions concerning unemployment prospects deteriorated. Consumers’ willingness to buy big-ticket items in the next 12 months improved slightly over the previous month, but remained in negative territory.
Author: Ricardo Aceves, Senior Economist