The mood among consumers has lifted. Consumer confidence improved from -19 in October to -14 in November. Consumers’ opinions on the economic situation in the next twelve months were far more positive. The upward trend that started in April continues in November.
In November, consumers were optimistic about the economic situation in the next twelve months. The component indicator improved 24 points to reach 9. Prior to this improvement, consumers’ opinions on the economic future had deteriorated substantially in October, when the indicator dropped by 20 points. Opinions on the economic situation in the past twelve months remained very negative, despite a slight improvement relative to October.
The indicator willingness to buy hardly changed and remained marginally negative. Consumers’ opinions on their own financial situation in the twelve months to come worsened somewhat. The question whether it is the right time to purchase expensive items and consumers’ opinions on their own financial situation in the past twelve months were the same as in October.