Consumer Confidence Survey

The Banque centrale du Luxembourg’s consumer confidence indicator has rebounded sharply in May 2025.

All components of the indicator have shown favourable developments this month, with the exception of households' perceptions of their past financial situation, which declined only slightly. In May, households have significantly revised upwards their expectations regarding their own future financial situation and, even more notably, those regarding the general economic situation in Luxembourg. Furthermore, households have substantially increased their intentions to make major purchases.

In total, the consumer confidence indicator, which is the arithmetic mean of the four components[1], has rebounded sharply in May 2025.

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
2023	May	-16	-24	-14	-4	-22
	June	-13	-17	-13	-4	-19
	July	-17	-19	-17	-5	-29
	August	-14	-23	-8	-2	-23
	September	-17	-26	-11	-4	-27
	October	-17	-19	-17	-7	-26
	November	-15	-14	-10	-5	-32
	December	-13	-10	-9	-4	-29
2024	January	-13	-17	-9	-4	-21
	February	-13	-19	-14	-5	-15
	March	-11	-16	-6	1	-22
	April	-8	-9	-6	2	-21
	May	-11	-15	-6	-2	-21
	June	-9	-13	-10	1	-16
	July	-13	-13	-9	-5	-24
	August	-13	-14	-3	-4	-31
	September	-10	-12	-5	-2	-21
	October	-9	-7	-8	1	-24
	November	-13	-16	-12	-1	-24
	December	-12	-15	-9	-5	-21
2025	January	-8	-13	-4	-1	-14
	February	-12	-21	-9	-2	-15
	March	-13	-18	-7	0	-25
	April	-16	-33	-5	-5	-21
	May	-7	-12	-6	0	-10

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.

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

This survey is co-financed by the European Commission.

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