Consumers slightly more pessimistic in October

 At -30, the consumer confidence indicator in October 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.

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Consumer confidence, seasonally adjusted

Year	Month	balance (average of the component questions)
2016	November	20
2016	December	21
2017	January	21
2017	February	22
2017	March	24
2017	April	26
2017	May	23
2017	June	23
2017	July	25
2017	August	26
2017	September	23
2017	October	23
2017	November	22
2017	December	25
2018	January	24
2018	February	23
2018	March	24
2018	April	25
2018	May	23
2018	June	23
2018	July	23
2018	August	21
2018	September	18
2018	October	15
2018	November	13
2018	December	9
2019	January	0
2019	February	-2
2019	March	-4
2019	April	-3
2019	May	-3
2019	June	0
2019	July	2
2019	August	0
2019	September	-2
2019	October	-1
2019	November	-2
2019	December	-2
2020	January	-3
2020	February	-2
2020	March	-2
2020	April	-22
2020	May	-31
2020	June	-27
2020	July	-26
2020	August	-29
2020	September	-28
2020	October	-30

Consumer confidence, seasonally adjusted

Year	Month	balance (average of the component questions)
2016	November	20
2016	December	21
2017	January	21
2017	February	22
2017	March	24
2017	April	26
2017	May	23
2017	June	23
2017	July	25
2017	August	26
2017	September	23
2017	October	23
2017	November	22
2017	December	25
2018	January	24
2018	February	23
2018	March	24
2018	April	25
2018	May	23
2018	June	23
2018	July	23
2018	August	21
2018	September	18
2018	October	15
2018	November	13
2018	December	9
2019	January	0
2019	February	-2
2019	March	-4
2019	April	-3
2019	May	-3
2019	June	0
2019	July	2
2019	August	0
2019	September	-2
2019	October	-1
2019	November	-2
2019	December	-2
2020	January	-3
2020	February	-2
2020	March	-2
2020	April	-22
2020	May	-31
2020	June	-27
2020	July	-26
2020	August	-29
2020	September	-28
2020	October	-30

Economic sentiment deteriorated

Willingness to buy unchanged

Consumer’ willingness to buy stands at -9, the same as in September. Consumers are slightly more optimistic about their expected financial situation for the next twelve months. On the other hand, they are somewhat more pessimistic about their financial situation over the past twelve months. Furthermore, they are just as negative as in September about the question whether it is a favourable time for large purchases.

Consumers extremely gloomy about future unemployment

In October, consumers are more pessimistic about future unemployment than they were in September. Approximately 92 percent of the respondents expect unemployment to rise in the next twelve months, whereas 5 percent anticipate a drop. As a result, the balance of positive and negative answers stands at -87. Since the beginning of the time series in 1986, consumers were only more pessimistic about future unemployment in March 1993 (-88).

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 could have resulted in slightly reduced accuracy of the data.