At -47, the consumer confidence indicator in May is positioned well below its long-term average over the past two decades (-9). The indicator reached an all-time high (36) in January 2000 while the all-time low (-48) was reached in April 2022. CBS has been measuring consumer confidence since April 1986.
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Consumers’ sentiment about the economic climate hardly changed
Consumers were almost as pessimistic about the economy in May as they were in April. This component indicator stood at -68, compared to -69 in April. Consumers are more negative about the economic situation over the past twelve months, but less negative about the economy for the next twelve months.
Willingness to buy also virtually the same
Consumers’ willingness to buy stands at -33, compared to -34 in April. Consumers are less negative about their financial situation in the next twelve months, but still found the time for making major purchases more unfavourable than in April. Never before have so many consumers been so negative about this. Their assessment of the financial situation over the past twelve months did not change.