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Economy in Austria   Still pessimistic

Austria: Consumer confidence reaches multi-year high in December

AustriaThe consumer confidence index produced by Fessel-GfK jumped up in December to minus 4 points, the highest number since March 2013.

This was above November’s minus 9 points but still below the 0-point threshold, indicating that pessimists outnumber optimists. The index has been below zero since 2011.

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December’s result came on the back of a remarkable improvement in consumers’ assessment of the current economic situation and the development of the economy in the next 12 months.

In line with this, consumers had a more optimistic view on the labor market.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.1% in 2017, which is unchanged from last month’s forecast.

For 2018, panelists see private consumption rising 1.2%.

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