Austria Consumer Confidence May 2016

Austria

Austria: Consumer confidence inches up in May

June 6, 2016

The consumer confidence index elaborated by Fessel-GfK improved in May after a tumble in April. The indicator increased from April’s minus 14 points to minus 12 points in May. Nonetheless, the index has stayed firmly entrenched below the 0-point threshold that indicates that pessimists outnumber optimists since 2011.

May’s result mainly reflected households’ more optimistic assessment regarding their future financial situations as well as improved expectations for the economy. Conversely, their opinion on their current financial situations as well as on the country’s present economic situation deteriorated over the previous month. May’s survey also showed that consumers were more optimistic regarding current and future major purchases and less concerned about future unemployment.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.4% in 2016, which is up 0.1 percentage points from last month’s forecast. For 2017, panelists see private consumption rising 1.3%.


Author: Marlène Rump, Economist

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Austria Consumer Confidence May 2016

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


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