Austria Consumer Confidence May 2021

Austria

Austria: Consumer confidence hits highest reading since August 2019 in May

May 31, 2021

Consumer confidence came in at minus 2 in May, up notably from April's minus 8. May's result marked the best reading since August 2019. Consequently, the index moved closer to the neutral zero-threshold but continued indicating among consumers.

The uptick reflected greater optimism regarding households’ financial situation in the coming 12 months and less downbeat views on the financial situation in the past 12 months. Moreover, views on the general economic situation returned to optimism in the months.

FocusEconomics Consensus Forecast panelists foresee private consumption growing 3.9% in 2021, which is down 1.0 percentage points from last month’s forecast. For 2022, panelists see private consumption rising 3.0%.


Author:, Economist

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