Austria Consumer Confidence October 2019

Austria

Austria: Consumer sentiment edges up but remains pessimistic in October

November 7, 2019

Sentiment among Austrian consumers rose from minus 4 in September to minus 3 in October; however, the index remained entrenched in pessimistic territory.

The print came on the heels of a less positive view on the economy in past 12 months and a deterioration in the outlook for the economy in the year ahead. Sentiment regarding the labor market consequently soured as respondents expect unemployment to rise over the next year. Meanwhile, views regarding saving and consumers’ intention to save turned less upbeat, likely influenced by the renewed dovishness of the European Central Bank. On the other hand, on the assessment of households’ expected financial situation in the 12 months ahead improved.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.4% in 2020, which is unchanged from last month’s forecast. For 2021, panelists see private consumption rising 1.4% again.


Author:, Economist

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Austria Consumer Confidence October 2019

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


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