Austria: Consumer confidence steady in July
July 30, 2018
Consumer confidence was stable in July, with the index unchanged at 9, firmly entrenched above the crucial zero-point mark that separates optimism from pessimism among consumers.
Although consumers were more optimistic about their current financial situation, they were less upbeat regarding their financial situation in the next 12 months. Households’ perception of both the general economic situation in the past year and the economic outlook for the next year worsened. The less upbeat sentiment regarding the expected trajectory of the economy was offset by increased optimism regarding the labor market; higher optimism regarding the labor market was underpinned by near six-year low unemployment in May—the last month for which data is available. Nevertheless, households were less willing to purchase big-ticket items, and their propensity to save increased marginally.
Author: Lindsey Ice, Economist