Austria Consumer Confidence May 2020

Austria

Austria: Consumer confidence ticks up in May but remains deeply pessimistic

May 29, 2020

Consumer confidence rose to minus 14 in May from the over one-decade low of minus 18 in April. The uptick in sentiment came on the back of less downbeat views on households’ financial situation and the economy in the year ahead, likely influenced by the gradual reopening of the Austrian economy. Consequently, views on the labor market improved with fewer people expecting unemployment to rise. Moreover, Austrians turned slightly less pessimistic towards making big-ticket purchases at present and in the year ahead, with their intention to save moderating.

FocusEconomics Consensus Forecast panelists foresee private consumption to drop 5.5% in 2020, which is down 0.5 percentage points from the prior month’s forecast. For 2021, panelists see private consumption rising 4.8%


Author:, Economist

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Austria Consumer Confidence May 20 20

Note: GfK Consumer Confidence Index. The 0-point threshold separates optimistic from pessimistic sentiment.
Source: GfK.


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