Austria: Consumer confidence improves slightly in January
January 29, 2015
The consumer confidence index elaborated by Fessel-GfK inched up to minus 12 points in January from minus 13 points in December. January’s print showed that confidence among Austrian consumers recovered part of the ground lost in the previous month, which had marked the lowest level since July 2013. Despite the mild improvement, the indicator remains below the 0-point threshold, which indicates that pessimists outnumber optimists.
The improvement in January mainly reflected consumers’ more optimistic assessments regarding their own financial prospects in the next 12 months. In addition, households’ opinions regarding employment prospects in the next months improved over the previous month. Conversely, consumers were more pessimistic regarding both the current and prospective economic situation in the country. Meanwhile, households’ willingness to purchase big ticket items deteriorated compared to December.
Author: Cecilia Simkievich, Economist