Austria: Consumers less pessimistic in September
September 27, 2013
The Fessel-GfK consumer confidence indicator rose to minus 4 points in September, up from minus 6 points in August. The result represents the highest level in six months. Despite the improvement, consumer confidence is still below the 0-point threshold which indicates that pessimists outnumber optimists.
According to the survey, households are less pessimistic regarding the current economic situation. Their views on economic prospects in the next 12 months improved notably compared to the previous month. In addition, consumers' financial expectations and their willingness to buy big-ticket items in the next 12 months benefitted largely from the improvement in their economic expectations.
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