Prince Henri Auditoire 02 BW

Consumer confidence survey

06.09.2023

Consumer confidence recovers in August 2023.

 

The Banque centrale du Luxembourg’s consumer confidence indicator has recovered in August 2023.

The components of the indicator have evolved in various ways this month. In August, households have strongly revised downwards their expectations for the general economic situation in Luxembourg whereas they have upgraded those for their personal financial situation. Even more markedly, they have upgraded their perceptions of their financial situation. In the meantime, their intentions in terms of major purchases have substantially increased.

Finally, the consumer confidence indicator, which is the arithmetic mean of the four components[1], recovered in August 2023.

The results are presented in the table below:

 

 

 

 

Consumer confidence indicator

Expected general economic situation in Luxembourg

Perception of financial situation of households

Expected financial situation of households

Intended spending on major purchases

2021

August

-1

5

1

2

-12

 

September

-2

8

-1

2

-16

 

October

-4

8

-5

-3

-15

 

November

-8

-5

-8

-8

-10

 

December

-7

-9

-4

-3

-13

 2022

January

-8

-6

-4

-4

-19

 

February

-8

-3

-10

-7

-10

 

March

-24

-45

-13

-18

-21

 

April

-22

-34

-16

-19

-19

 

May

-21

-32

-16

-16

-20

 

June

-22

-35

-15

-18

-20

 

July

-23

-42

-14

-17

-18

 

August

-26

-42

-19

-17

-27

 

September

-29

-46

-17

-30

-25

 

October

-27

-41

-16

-25

-25

 

November

-25

-40

-14

-13

-30

 

December

-20

-30

-15

-16

-20

 2023

January

-17

-23

-16

-7

-20

 

February

-17

-18

-18

-5

-26

 

March

-13

-18

-14

-3

-19

 

April

-19

-23

-16

-6

-29

 

May

-16

-22

-13

-5

-22

 

June

-12

-12

-13

-3

-19

 

July

-17

-15

-18

-5

-30

 

August

-14

-23

-7

-2

-23

Note: The consumer confidence indicator results from the average of balances related to (1) consumers’ expectations of the general economic situation in Luxembourg; (2) the perception of their financial situation over the past 12 months; (3) their expected financial situation over the next 12 months; and (4) their intended spending on major purchases (furniture, electrical devices…). Balances are constructed as the difference between the percentages of respondents giving positive and negative replies.

 

This survey is co-financed by the European Commission.

[1] The four components of the consumer confidence indicator are seasonally adjusted.