Austria: Consumers turn less pessimistic in January
February 8, 2013
In January, the Fessel-GfK consumer confidence indicator rose to minus 7 points from minus 11 points, thus returning to levels last seen in July 2012. As a result, the index moved closer to the 0-point threshold, which indicates that pessimists outnumber optimists.
The January survey showed that consumers were less pessimistic about the current economic situation and significantly more optimistic about their future economic prospects in the next 12 months. Moreover, households showed less pessimism about job prospects in the year ahead. Finally, consumers' willingness to buy big-ticket items in the next 12 months remained unchanged compared to the previous month.
Author: Ricardo Aceves, Senior Economist