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