Austria: Consumer confidence falls in July
Consumer confidence fell to minus 10.0 in July from June’s minus 8.0. As a result, the index moved further below the neutral zero-threshold and indicated pessimism among consumers. The result came despite the reopening of the economy.
The downtick in July was driven by more pessimistic views on households’ financial situation in the last 12 months and more downbeat views on the general economic situation in the year ahead. Consequently, consumers are less likely to purchase big-ticket items in the next 12 months.