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.
Author: Ricardo Aceves, Senior Economist