For the second month in a row, consumers were less negative in May. Consumer confidence increased from -28 to -23. In April, the indicator already improved by 6 points. Despite the improvement, pessimists still hugely outnumbered optimists.
Consumer confidence, seasonally adjusted
Consumers were far less pessimistic about the economic climate. They were especially less negative about the economic situation in the twelve months to come. This is one of the five component indicators of the consumer confidence index. This indicator increased 19 points and stood at -13 in May. In two months time, opinions on the economic situation in the next twelve months improved 46 points. Such a strong recovery in such a short period is unprecedented. Opinions on the economic situation in the past twelve months also improved in May.
Economic climate in the next 12 months, seasonally adjusted
Consumers’ willingness to buy remained unchanged, despite the less negative view of the economy. Consumers’ opinions on whether the time is right to buy expensive items, e.g. washing machines or furniture, were slightly less negative. Consumers’ opinions on their financial situation in the next twelve months also improved. On the other hand, they were more negative about the financial situation of their own household in the past twelve months.
Indicators consumer confidence