Austria: Consumer confidence falls in April
April 29, 2013
In April, the Fessel-GfK consumer confidence indicator dropped to minus 6 points, after the index rose to its highest level in 10 months in March (-3 points). As a result, the index moved further below the 0-point threshold, which indicates that pessimists outnumber optimists.
The April drop showed that consumers' opinion about the current economic situation and future economic prospects for the next 12 month deteriorated compared to the previous month. Moreover, households were more pessimistic regarding their own financial prospects for the next 12 months, while a higher number of respondents to the April survey expect unemployment to increase. In contrast, consumers' willingness to buy big-ticket items in the next 12 months improved compared to the previous month.
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