Austria: Consumers confidence stable for second consecutive month
November 28, 2013
In November, the Fessel-GfK consumer confidence indicator remained unchanged for second consecutive month at 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 November survey showed that, although households are more pessimistic regarding the current economic situation, their views on economic prospects in the next 12 months improved notably over the previous month. In addition, consumers' financial expectations improved compared to October and their willingness to buy big-ticket items in the next 12 months also rose.
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%, which is unchanged over the previous month's forecast.
Author: Ricardo Aceves, Senior Economist