Austria Consumer Confidence August 2016

Austria

Austria: Consumer confidence falls in August

August 31, 2016

The consumer confidence index elaborated by Fessel-GfK deteriorated slightly in August, ending three consecutive months of improvement. The indicator fell from July’s minus 8 to minus 9 in August. The reading kept the index well below the 0-point threshold that indicates that pessimists outnumber optimists. July’s result had marked the index’s highest reading in two years; the index has been below zero since 2011.

August’s result mainly reflected households’ increased concern about future employment prospects and the current economic situation. Conversely, the result masks the improvement in households’ economic expectations and current financial situation.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.2% in 2016, which is unchanged from last month’s forecast. For 2017, panelists see private consumption also rising 1.2%.


Author:, Economist

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Austria Consumer Confidence Chart


Austria Consumer Confidence August 2016

Note: Fessel-GfK Consumer Confidence Index. The 0-point threshold separates optimistic from pessimistic sentiment.
Source: Fessel-GfK.


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