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.
Author: Jan Lammersen, Economist