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Consumers more pessimistic than ever about the economic climate
Consumers are more pessimistic about the economy in August than they were in July. This component indicator stands at -74, compared to -71 in July. Consumers have not been so pessimistic about the economy since the beginning of the time series in 1986. They are both more negative about the economy in the past twelve months and about the economy in the next twelve months.
Willingness to buy at historically low level
In August, consumers’ willingness to buy stands at -41, compared to -38 in July. This is a record low as well. Consumers are more pessimistic about both their financial situation in the next twelve months and their financial situation over the past twelve months. They find the time for making large purchases about as unfavourable as in the previous month. Never before have consumers been this negative.