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.
Author: Christopher Mc Innes, Economist