Austria: Consumer confidence falls to record low in May
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.