Austria: Consumer confidence improves slightly in March
March 28, 2014
In March, the Fessel-GfK consumer confidence indicator inched up from February's minus 7 points to minus 6 points. Despite the improvement, the consumer confidence index remains below the 0-point threshold, which indicates that pessimists outnumber optimists. March's result reflects household's less pessimistic views of their current financial situations as well as of their future financial standing. While consumers' perception of the current economic situation improved compared to the previous month, their assessments of the country's economic prospects deteriorated compared to February. There was a positive development in consumers' willingness to buy big-ticket items in the next 12 months, which improved compared to the previous month. FocusEconomics panelists expect private consumption to expand 0.7% in 2014, which is unchanged from last month's forecast. For 2015, panelists see private consumption rising 1.1%.
Author: Ricardo Aceves, Senior Economist