Austria Consumer Confidence

Austria

Austria: Consumer confidence improves somewhat in October

October 30, 2014

The consumer confidence index elaborated by Fessel-GfK rose to minus 12 points in October from minus 13 points in September. October’s result recovered part of the ground lost in September, which had marked the lowest confidence level in two years. Despite the improvement, the indicator remains firmly entrenched below the 0-point threshold, which indicates that pessimists outnumber optimists.

October’s survey showed that consumers’ opinions regarding their current financial situation deteriorated over the previous month. Conversely, their expectations on their financial prospects in the next 12 months improved. Households’ assessment of both the current overall economic situation and the country’s economic prospects improved in October. Consumers’ willingness to buy big-ticket items fell slightly compared to September.

FocusEconomics Consensus Forecast expect private consumption to expand 0.6% in 2014, which is down 0.1 percentage points from last month’s forecast. For 2015, panelists see private consumption rising 1.2%.


Author:, Senior Economist

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Austria Consumer Confidence October 2014

Note: Fessel-GfK Consumer Confidence Index. The 0-point threshold separates optimistic from pessimistic sentiment.
Source: Fessel-GfK.


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