Austria: Consumer confidence remains steady at multi-year high in April
At the outset of the second quarter of the year, consumer sentiment in Austria did not diminish from the prior month’s multi-year high of 13. As a result, confidence among Austrian consumers in April remained well-anchored above the zero-point threshold that separates optimism from pessimism.
However, the print reflected a somewhat mixed picture. While consumers felt more upbeat about the general economic situation in Austria in the past 12 months and the next 12 months, they held a slightly less optimistic view on their financial situation in the year ahead. This was reflected in a marginally more pessimistic view on labor market developments in the next 12 months, as more people expected unemployment to increase going forward. As a result, propensity to save in the year ahead decreased, while consumers’ likelihood to save in the current environment increased. Moreover, consumers considered the year ahead to be better suited to making major purchases compared to one month ago.