Consumer confidence survey

The Banque centrale du Luxembourg’s consumer confidence indicator has declined in November 2020.

The components of the indicator have evolved in various ways this month. In November, households’ perceptions of their past personal financial situation have improved again. Households’ expectations regarding their personal financial situation have stabilised whereas those regarding the general economic situation in Luxembourg have strongly deteriorated. In the meantime, their intentions in terms of major purchases have been significantly lowered.

In total, the consumer confidence indicator, which is the arithmetic mean of the four components[1], has declined in November 2020.

The results are presented in the table below: 

		Consumer confidence indicator	Expected general economic situation in Luxembourg	Perception of financial situation of households	Expected financial situation of households	Intended spending on major purchases
2018	November	2	8	4	6	-12
	December	-1	8	2	3	-16
2019	January	1	6	3	6	-13
	February	-1	3	-1	5	-12
	March	1	2	1	7	-4
	April	0	4	1	2	-7
	May	1	3	6	5	-8
	June	-1	6	0	6	-14
	July	-1	4	-2	6	-12
	August	0	5	-1	6	-11
	September	-3	-3	-4	4	-10
	October	-5	-8	-2	2	-11
	November	-2	0	-2	6	-12
	December	-2	-6	-1	5	-7
2020	January	-4	-9	-2	1	-5
	February	-3	-5	4	0	-9
	March	-10	-24	-1	-1	-14
	April	-24	-55	-4	-16	-20
	May	-17	-39	-2	-7	-19
	June	-9	-24	-4	-3	-6
	July	-11	-24	-6	-3	-13
	August	-16	-33	-8	-3	-19
	September	-12	-15	-6	-6	-19
	October	-9	-21	-3	-1	-11
	November	-13	-36	2	-1	-17

Note: The consumer confidence indicator results from the average of balances related to (1) consumers’ expectations of the general economic situation in Luxembourg; (2) the perception of their financial situation over the past 12 months; (3) their expected financial situation over the next 12 months; and (4) their intended spending on major purchases (furniture, electrical devices…). Balances are constructed as the difference between the percentages of respondents giving positive and negative replies.

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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