Austria Consumer Confidence May 2022

Austria

Austria: Consumer confidence falls to record low in May

May 31, 2022

Consumer confidence came in at minus 24.0 in May, down from April's minus 21.0. May's result marked the worst reading on record. As a result, the index pointed to deteriorating confidence among consumers.

The downtick was driven by more pessimistic views on the general economic situation and households’ financial situation in the past and the next 12 months. This is likely linked to the ongoing war in Ukraine.

FocusEconomics Consensus Forecast panelists foresee private consumption growing 4.4% in 2022, which is down 1.0 percentage point from last month’s forecast. For 2023, panelists see private consumption rising 2.8%.


Author:, Economist

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Austria Consumer Confidence May 2022

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


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