Austria: Consumer confidence edges down in August
Consumer confidence moderated in August, with the index dropping to 8 from 9 in July; however, sentiment remained firmly entrenched above the crucial zero-point mark separating optimism from pessimism among consumers.
August’s reading reflected less optimism regarding the financial situation of households and the general economic situation in Austria in the year ahead and the past year. On the other hand, consumers’ willingness to purchase big-ticket items increased. However, consumers became more pessimistic regarding price developments in the next 12 months and the previous 12 months, which likely fed into a slight increase in the propensity to save in the year ahead.