Austria: Consumer confidence improves in May
May 30, 2012
In May, the Fessel-GfK consumer confidence indicator rose to minus 3 points from minus 5 points in April, which represents its highest level since August 2011. Despite the improvement, the index remains below the 0-point threshold, which indicates that pessimists outnumber optimists, for the ninth consecutive month. The May survey showed that consumers were less pessimistic about their future financial prospects for the next 12 months. Moreover, respondents also had a better assessment regarding the current economic situation and economic prospects in the year ahead. Finally, consumers showed more willingness to embark on major purchases.
Author: Ricardo Aceves, Senior Economist