Austria Consumer Confidence July 2020

Austria

Austria: Consumer confidence falls in July

July 30, 2020

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.

FocusEconomics Consensus Forecast panelists foresee private consumption dropping 6.6% in 2020. For 2021, panelists see private consumption rising 4.9%.


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Austria Consumer Confidence July 20 20

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


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