Austria: Consumer confidence wanes in December
January 9, 2014
In December, the Fessel-GfK consumer confidence indicator fell to minus 6 points, which marks the first drop in the index following two consecutive months at minus 4 points. Consequently, consumer confidence remains below the 0-point threshold, which indicates that pessimists outnumber optimists.
Households were more pessimistic in December regarding the current economic situation and the economic prospects for the next 12 months. Consumers' views on their own financial prospects in the coming 12 months deteriorated notably over the previous month. In addition, consumers' willingness to buy big-ticket items in the next 12 months also fell.
FocusEconomics panelists expect private consumption to expand 0.7% in 2014, which is unchanged from last month's forecast. For 2015, panelists see private consumption rising 1.2%
Author: Dirina Mançellari, Senior Economist