Austria: Consumer confidence stable in February
February 27, 2014
In February, the Fessel-GfK consumer confidence indicator stabilized at January's minus 7.0 points. The consumer confidence index remains below the 0-point threshold, which indicates that pessimists outnumber optimists.
February's subdued result reflects household's more pessimistic assessment of the current economic situation and the economic prospects for the next 12 months. Consumers' views on the current financial situation improved over the previous month, while their expectations regarding their financial prospects in the coming 12 months deteriorated. Consumers' willingness to buy big-ticket items in the next 12 months improved compared to the previous month.
FocusEconomics panelists expect private consumption to expand 0.7% in 2014, which is unchanged from last month's forecast. For 2015, panelists see private consumption rising 1.1%.
Author: Ricardo Aceves, Senior Economist