Austria: Consumer confidence rises for third consecutive month
March 27, 2013
In March, the Fessel-GfK consumer confidence indicator edged up to minus 3 points from minus 4 points in February, which represents the highest level observed since August 2011. As a result, the index moved closer to the 0-point threshold, which indicates that pessimists outnumber optimists.
The March reading showed that consumers were less pessimistic about both the economic expectations and their own financial prospects for the next 12 months. In addition, households showed more optimism about job prospects in the year ahead. Finally, consumers' willingness to buy big-ticket items in the next 12 months improved compared to the previous month.
FocusEconomics panellists expect private consumption to expand 0.7% this year, which is unchanged from last month's forecast. For 2014, panellists see private consumption rising 1.1%.
Author: Ricardo Aceves, Senior Economist