Consumer Confidence Survey

The Banque centrale du Luxembourg’s consumer confidence indicator has slightly decreased in April 2017.

The components of the indicator have evolved heterogeneously this month.

Households’ expectations about the general economic situation in Luxembourg have continued to increase in April and reached a new record high. Their concerns about unemployment in Luxembourg have increased after a sharp decline in the previous month. The component related to their personal financial situation has deteriorated and the one related to their capacity to save has remained stable. In total, the consumer confidence indicator, which is the arithmetic mean of the four components, slightly decreased in April 2017.[1]

The results are presented in the table below: 

			Expectations over the next 12 months
		Consumer confidence indicator	General economic situation in Luxembourg	Unemployment in Luxembourg	Financial situation of households	Savings of households
2015	April	1	-5	25	-2	36
	May	2	-9	21	0	37
	June	0	-11	23	-2	37
	July	2	-12	23	-2	46
	August	1	-10	26	0	42
	September	0	-14	26	-2	41
	October	-1	-10	27	0	34
	November	3	-7	21	-1	39
	December	5	-6	13	-1	41
2016	January	5	-3	11	0	35
	February	7	-5	11	1	45
	March	9	-4	8	5	44
	April	8	-4	3	3	34
	May	8	-3	8	2	42
	June	10	-3	7	2	46
	July	7	-3	11	1	41
	August	10	-4	5	5	45
	September	5	-5	10	1	35
	October	6	-3	10	7	31
	November	11	2	3	5	40
	December	14	4	3	5	50
2017	January	10	1	6	4	41
	February	10	1	3	3	38
	March	16	3	-4	8	49
	April	15	6	-1	3	49

Note: The consumer confidence indicator results from the average of balances related to consumers’ expectations of (1) the general economic situation and (2) unemployment (inverted sign) in Luxembourg, of (3) their financial situation and (4) their future savings. Balances are constructed as the difference between the percentages of respondents giving positive and negative replies. In terms of unemployment, a positive reply means an unfavourable development in the labour market.

This survey is co-financed by the European Commission.

[1] The four components of the consumer confidence indicator are seasonally adjusted.

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