The mood among consumers has lifted in July. The consumer confidence index stood at -14, versus -18 in June. Confidence improved after a gradual decline in the preceding months. Consumers’ opinions on the economic climate were less negative, but their willingness to buy remained low.
Sentiments about the economic climate were obviously less negative than in June. This component indicator of consumer confidence increased by 10 points to reach -19. Consumers’ opinions on the economic situation in the past 12 months improved most, the indicator climbed 14 points. The indicator reflecting opinions on the economic situation for the next 12 months improved 5 points to -8. This was only indicator to perform above the long-term average of -12 over the past two decades.
Willingness to buy did not change. In July, the component indicator willingness to buy stood at -10, which is still low. Consumers were slightly more pessimistic about their own financial situation, but, they thought the time more favourable to purchase expensive items.