Austria: Consumers confidence stabilizes in October
October 30, 2013
In October, the Fessel-GfK consumer confidence indicator remained unchanged at September's minus 4 points, which represented the highest reading since March. Nonetheless, consumer confidence is still below the 0-point threshold, which indicates that pessimists outnumber optimists.
The October survey showed that households are less pessimistic regarding the current economic situation and their views on economic prospects in the next 12 months improved notably over the previous month. Conversely, consumers' financial expectations deteriorated compared to September, while their willingness to buy big-ticket items in the next 12 months remained unchanged.
FocusEconomics panelists expect private consumption to expand 0.2% this year, which is down 0.1 percentage points from last month's forecast. For 2014, panelists see private consumption rising 1.0%.
Author: Ricardo Aceves, Senior Economist