Prince Henri Auditoire 02 BW

Consumer Confidence Survey

26.07.2016

Consumer confidence decreases in July 2016.

The Banque centrale du Luxembourg’s consumer confidence indicator has decreased in July 2016.

All the components of the indicator have evolved unfavourably this month, with the exception of households’ expectations about the economic situation in Luxembourg which have slightly improved.

Households’ concerns about unemployment in Luxembourg have strongly increased in July. Households have also revised downwards both their expectations about their personal financial situation and, even stronger so, their expectations about their capacity to save. In total, the consumer confidence indicator, which is the arithmetic mean of the four components, has decreased in July 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

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

 

June

10

-1

6

2

45

 

July

7

0

12

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.

This survey is co-financed by the European Commission.

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