Austria: Consumer confidence reaches multi-year high in February
The consumer confidence index produced by Fessel-GfK came in at 13 points in February, up from the prior month’s 12 points to reach the highest level since September 2007. As a result, the indicator remained well-anchored above the crucial zero-point threshold that separates optimism from pessimism among Austrian consumers.
A closer examination of the result showed a mixed result, however. Consumers expected their financial situations to improve in the next 12 months but held a less favorable view of their financial situations in the past 12 months. Both their outlooks on the economy in the year ahead and in the past year were less optimistic, and they expected inflation to pick up. Unemployment is also expected to rise in the next 12 months. Consumers considered the environment to be slightly more suited to making major purchases, as their view on current financial situations improved slightly.