Prince Henri Auditoire 02 BW

Consumer Confidence Survey

05.03.2018

Consumer confidence declines in February 2018.

The Banque centrale du Luxembourg’s consumer confidence indicator has declined in February 2018.

All the components of the indicator have evolved unfavourably this month with the exception of that related to households’ expectations about their personal capacity to save, which has continued to climb.

In February, households’ expectations about the general economic situation in Luxembourg have strongly deteriorated and their concerns about unemployment in Luxembourg have increased somewhat. Households have revised down their expectations about their personal financial situation. In total, the consumer confidence indicator, which is the arithmetic mean of the four components[1], has declined in February 2018.

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

2016

February

7

-6

12

1

46

 

March

10

-3

9

5

45

 

April

6

-5

4

2

32

 

May

8

-1

9

3

41

 

June

10

-1

7

2

45

 

July

8

0

11

1

41

 

August

10

-3

4

4

44

 

September

6

-2

9

2

34

 

October

6

-5

9

6

31

 

November

10

1

3

5

38

 

December

13

-1

3

5

52

2017

January

11

0

5

5

44

 

February

10

1

3

3

40

 

March

16

2

-3

8

49

 

April

14

6

-1

2

47

 

May

16

8

-6

2

48

 

June

14

6

0

4

46

 

July

14

9

0

3

44

 

August

13

7

2

3

44

 

September

15

11

3

6

45

 

October

17

11

-3

3

51

 

November

18

10

-4

6

52

 

December

15

4

-5

2

47

2018

January

20

15

-8

6

49

 

February

18

10

-7

3

51

The results of the survey since its inception in 2002 are available here:

http://www.bcl.lu/en/statistics/series_statistiques_luxembourg/05_real_economy/05_05_Table.xls

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.