Consumer confidence down in October

At -10, the consumer confidence indicator in October is positioned below its long-term average over the past two decades (-8). The indicator reached an all-time high (36) in January 2000 and an all-time low (-41) in March 2013.

Consumers more pessimistic about the economy

Consumers’ sentiment about the economic climate is more negative than in September. This component indicator stands at -14, down from -8. Consumers are more negative about the economic situation over the next twelve months. Opinions on the economic situation over the past twelve months have not changed.

Willingness to buy lower

Consumers’ willingness to buy stands at -7, down from -3 in September. Consumers are more negative about their financial situation in the coming twelve months. Opinions on their financial position in the past twelve months and on making large purchases deteriorated as well.

More and more consumers classify price increases as sharp

In October, 48 percent of consumers classified the price increases in the past year as sharp. This is the highest percentage since the beginning of the time series in 2017. Furthermore, 49 percent expected price increases to accelerate in the next twelve months. In September, this share still amounted to 35 percent.