Austria: Consumer sentiment sinks to over two-year low in June
June 28, 2019
Sentiment among Austrian consumers nosedived from a neutral reading in May to minus 4.0 in June, marking the lowest reading since March 2017 and ending the second quarter on a low.
The deterioration in consumer confidence was driven by less upbeat views on the financial situation of household in the past 12 months and the next 12 months, while their outlook on the general economic situation turned noticeably pessimistic from an optimistic reading in May. Consequently, consumers were more hesitant to purchase big ticket items, while their probability to save increased.
Author: Jan Lammersen, Economist