Austria: Consumer confidence drops in July
July 30, 2012
In July, the Fessel-GfK consumer confidence indicator fell to minus 7 points from minus 6 points in June. The July print represents the lowest level in the last four months. As a result of the drop, the index dipped further below the 0-point threshold, which indicates that pessimists outnumber optimists. The July survey showed that consumers were more pessimistic about the current economic situation as well as about economic prospects for the next 12 months. In addition, respondents' to the survey also revealed a more pessimistic assessment about future job conditions.
Author: Ricardo Aceves, Senior Economist