Consumer confidence survey

Consumer confidence continues to rise in June 2023. 

The Banque centrale du Luxembourg’s consumer confidence indicator has continued to rise in June.

All the components of the indicator have evolved favourably this month, with the exception of that related to households' perception of their financial situation, which has remained stable. In June, households have very significantly revised upwards their expectations for the general economic situation in Luxembourg and, to a lesser extent, those for their financial situation. In the meantime, their intentions in terms of major purchases have registered another considerable increase.

In total, the consumer confidence indicator, which is the arithmetic mean of the four components[1] has continued to rise in June 2023.

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
2021	June	2	19	-1	1	-11
	July	-3	9	-4	1	-18
	August	-1	5	1	2	-12
	September	-2	8	-1	2	-16
	October	-4	8	-5	-3	-15
	November	-8	-5	-8	-8	-10
	December	-7	-9	-4	-3	-13
2022	January	-8	-6	-4	-4	-19
	February	-8	-3	-10	-7	-10
	March	-24	-45	-13	-18	-21
	April	-22	-34	-16	-19	-19
	May	-21	-32	-16	-16	-20
	June	-22	-35	-15	-18	-20
	July	-23	-42	-14	-17	-18
	August	-26	-42	-19	-17	-27
	September	-29	-46	-17	-30	-25
	October	-27	-41	-16	-25	-25
	November	-25	-40	-14	-13	-30
	December	-20	-30	-15	-16	-20
2023	January	-17	-23	-16	-7	-20
	February	-17	-18	-18	-5	-26
	March	-13	-18	-14	-3	-19
	April	-19	-23	-16	-6	-29
	May	-16	-22	-13	-5	-22
	June	-12	-12	-13	-3	-19

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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