Consumer Confidence Survey

Consumer confidence increases in May 2016.

The Banque centrale du Luxembourg’s consumer confidence indicator has slightly increased in May 2016.

The components of the indicator have evolved heterogeneously this month.

Households’ concerns about unemployment in Luxembourg have strongly increased in May, after a marked declined a month earlier. In the meantime, households have revised downwards their expectations about their personal financial situation. However, their expectations about the economic situation in Luxembourg and their capacity to save have been clearly more optimistic in May than during the previous month. In total, the consumer confidence indicator, which is the arithmetic mean of the four components, has slightly increased in May 2016.[1]

The results are presented in the table below: 

			Expectations over the next 12 months
		Consumer confidence indicator	General economic situation in Luxembourg	Unemployment in Luxembourg	Financial situation of households	Savings of households
2014	May	-4	-14	36	-8	41
	June	0	-9	30	-3	43
	July	-3	-8	38	-8	41
	August	-7	-18	38	-7	36
	September	-8	-19	41	-8	35
	October	-3	-16	33	-7	43
	November	-6	-21	31	-8	37
	December	-4	-25	28	-5	41
2015	January	-3	-23	24	-7	41
	February	0	-15	21	-4	42
	March	-2	-17	24	-4	36
	April	1	-7	24	-2	35
	May	2	-7	20	0	36
	June	1	-8	23	-2	36
	July	2	-10	24	-2	45
	August	1	-9	26	0	41
	September	0	-10	27	-2	41
	October	-1	-12	28	0	35
	November	1	-10	21	-1	38
	December	5	-10	12	-1	43
2016	January	6	-4	10	0	38
	February	8	-6	11	1	46
	March	10	-3	7	5	45
	April	7	-5	1	3	32
	May	8	-1	8	1	41

Note: The consumer confidence indicator results from the average of balances related to consumers’ expectations of (1) the general economic situation and (2) unemployment (inverted sign) in Luxembourg, of (3) their financial situation and (4) their future savings. Balances are constructed as the difference between the percentages of respondents giving positive and negative replies. In terms of unemployment, a positive reply means an unfavourable development in the labour market.

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

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