Austria: Consumer confidence improves for second straight month
November 27, 2014
The consumer confidence index elaborated by Fessel-GfK rose to minus 11 points in November from minus 12 points in October. November’s print showed that confidence among Austrian consumers continued to recover part of the ground lost in September, which had marked the lowest confidence level in two years. Despite the improvement, the indicator remains below the 0-point threshold, which indicates that pessimists outnumber optimists.
The improvement in November reflected consumers’ notable optimistic assessment regarding their own financial prospects in the next 12 months. In addition, households’ opinion regarding employment prospects in the next months improved over the previous month. Regarding the country’s economic situation, consumers were more upbeat regarding the current situation, while their assessment on the country’s economic prospects deteriorated slightly over the previous month. Meanwhile, households’ willingness to buy big-ticket items rose compared to October.
Author: Ricardo Aceves, Senior Economist