Prince Henri Auditoire 02 BW

Consumer confidence survey

06.01.2023

Consumer confidence continues to rise in December 2022.

The Banque centrale du Luxembourg’s consumer confidence indicator has increased markedly in December.

The components of the indicator have evolved in various ways this month. In December, households’ both perceptions and expectations regarding their personal financial situation have diminished. In the meantime, households have considerably revised upwards their expectations regarding the general economic situation in Luxembourg and notably raised their intentions in terms of major purchases.

In total, the consumer confidence indicator, which is the arithmetic mean of the four components[1] continued to rise in December 2022.

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

2020

December

-11

-22

-5

0

-15

2021

January

-7

-14

2

0

-17

 

February

-9

-21

0

0

-15

 

March

-7

-8

-5

-1

-13

 

April

-3

-3

-3

2

-7

 

May

0

11

-2

2

-12

 

June

2

19

-2

1

-12

 

July

-3

9

-5

1

-18

 

August

-2

5

0

1

-12

 

September

-2

8

-2

2

-16

 

October

-4

8

-5

-3

-15

 

November

-8

-5

-7

-8

-10

 

December

-7

-9

-5

-3

-13

2022

January

-7

-6

-1

-4

-19

 

February

-7

-3

-9

-7

-10

 

March

-24

-45

-12

-18

-21

 

April

-22

-34

-17

-18

-19

 

May

-21

-32

-16

-16

-20

 

June

-22

-36

-16

-18

-20

 

July

-23

-42

-15

-17

-18

 

August

-26

-41

-20

-17

-27

 

September

-30

-46

-17

-30

-25

 

October

-27

-41

-17

-25

-25

 

November

-25

-40

-14

-13

-31

 

December

-20

-30

-16

-16

-20

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.

EU2

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