Austria: Consumer confidence rises in August
August 30, 2013
The Fessel-GfK consumer confidence indicator jumped to minus 6 points in August, up from minus 12 points in July - the lowest level observed since September 2012. Despite the improvement, consumer confidence is still below the 0-point threshold, indicating that pessimists outnumber optimists.
August's survey showed that consumers are less pessimistic regarding the current economic situation and their views on future economic prospects in the next 12 months improved notably compared the previous month. In addition, households' financial prospects benefited from the improvement in economic expectations. They also showed greater willingness to purchase big-ticket items in the next 12 months.
FocusEconomics panellists expect private consumption to expand 0.2% this year, which is down 0.1 percentage points from last month's forecast. For 2014, panellists see private consumption rising 1.0%.
Author: Ricardo Aceves, Senior Economist