At -28, the consumer confidence indicator in September stands far below its long-term average over the past two decades (-6). The indicator reached an all-time high (36) in January 2000 and an all-time low (-41) in March 2013.
|Year||Month||balance (average of the component questions)|
Economic sentiment slightly less pessimisticConsumers’ sentiment about the general economic situation improved slightly in September. This component indicator stands at -58, up from -59. Opinions on the economic situation over the past twelve months have deteriorated, while opinions on the economic situation in the next twelve months have improved.
Willingness to buy remains the same
Consumer’ willingness to buy stands at -9, the same value as in August. Opinions on their expected financial situation for the next twelve months were less negative. Opinions of consumers on their financial situation over the past twelve months have deteriorated slightly. Consumers also find this time less unfavourable to make large purchases compared to August.
Coronavirus has had a significant impact on consumer confidence. In order to arrive at proper series estimates in terms of level and seasonal influences, CBS has made some adjustments to its time series model. This results in slightly reduced accuracy of the data.