Austria Consumer Confidence November 2019

Austria

Austria: Consumer sentiment remains pessimistic in November

December 4, 2019

Consumer confidence fell from minus 3 in October to minus 4 in November as the index remained entrenched in pessimistic territory.

The downtick in November reflected less rosy views on the financial situation of households in the year ahead, likely owing to a deteriorating outlook on the general economic situation in Austria over the same time period. Consequently, sentiment regarding the labor market soured further with more respondents expecting a pick up in the unemployment rate. Unsurprisingly, then, intentions to save over the next 12 months rose despite the ECB’s loose monetary policy making saving an unattractive option.

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 November 2019

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


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