Austria: Consumer confidence reaches multi-year high in December but remains pessimistic
January 10, 2017
The Austrian consumer confidence index produced by Fessel-GfK jumped up in December to minus 4 points, the highest number since March 2013. This was above November’s minus 9 points but still below the 0-point threshold, indicating that pessimists outnumber optimists. The index has been below zero since 2011.
December’s result came on the back of a remarkable improvement in consumers’ assessment of the current economic situation and the development of the economy in the next 12 months. In line with this, consumers had a more optimistic view on the labor market.
Author: Christopher Mc Innes, Economist