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Consumer Confidence Survey

30.05.2018

Consumer confidence recovers in May 2018.

The Banque centrale du Luxembourg’s consumer confidence indicator has increased moderately in May 2018.

All the components of the indicator have evolved favourably this month with the exception of that related to households’ expectations about unemployment in Luxembourg, which has strongly deteriorated.

In May, households’ expectations about both the general economic situation in Luxembourg and their personal financial situation have improved somewhat. In the meantime, households have considerably revised upwards their expectations about their capacity to save. In total, the consumer confidence indicator, which is the arithmetic mean of the four components,[1] has increased moderately in May 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

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

 

March

15

4

-5

6

44

 

April

13

4

-5

3

38

 

May

14

6

1

5

44

 

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.