Austria: Consumer confidence falls slightly in April
April 29, 2014
In April, the Fessel-GfK consumer confidence indicator inched down from March's minus 6 points to minus 7 points. As a result, the consumer confidence index remains below the 0-point threshold, which indicates that pessimists outnumber optimists.
April's result reflects households' more pessimistic views regarding their current financial situations and their future financial standing. While consumers' assessment of the current economic situation was somewhat better compared to the previous month, their opinions concerning the country's economic prospects deteriorated compared to March. Moreover, consumers' willingness to buy big-ticket items in the next 12 months cooled down notably over the previous month.
FocusEconomics panelists expect private consumption to expand 0.7% in 2014, which is unchanged from last month's forecast. For 2015, panelists see private consumption rising 1.1%.
Author: Ricardo Aceves, Senior Economist