Consumer confidence down slightly

24/04/2008 15:00

Consumer confidence decreased slightly in April. The indicator fell from -9 in March to -12 in April. Consumers were especially more negative about the economic climate. Their willingness to buy decreased only marginally.

Indicators consumer confidence

Indicators consumer confidence

Consumers were more pessimistic about the economic climate than in March. They were more negative about the past twelve months, but felt particularly more gloomy about the development of the economy in the near future. In fact, consumers have not been this negative since the summer of 2003. The important difference between then and now is the state of the economy: the economic growth was negative and unemployment was rising rapidly. This was not the case in April 2008. However, the past months there was a lot of turbulence on the financial markets.

Consumers’ opinions on their own financial situation in the past twelve months deteriorated considerably. They also viewed the near future in a more negative light. Despite their pessimism with respect to the economy and their own financial situation, consumers were more positive about spending on durable goods than in March; not positive enough, however, to compensate the fall in February and March. On balance, willingness to buy was slightly down. 

Consumer confidence, seasonally adjusted

Consumer confidence, seasonally adjusted