Consumer confidence survey

Consumer confidence picks up somewhat in November 2023. 

The Banque centrale du Luxembourg’s consumer confidence indicator has picked up somewhat in November 2023.

All the components of the indicator have evolved favourably this month, with the exception of households’ intentions in terms of major purchases, which have declined sharply. In November, households have upgraded significantly their expectations for the general economic situation in Luxembourg and, to a lesser extent, those for their future personal financial situation. In the meantime, they have strongly revised upwards their perceptions of their financial situation.  

In total, the consumer confidence indicator, which is the arithmetic mean of the four components[1], picked up somewhat in November 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	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
	July	-17	-15	-18	-5	-30
	August	-14	-23	-7	-2	-23
	September	-17	-25	-10	-5	-27
	October	-17	-20	-17	-7	-26
	November	-16	-17	-10	-6	-32

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.

 

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

• Home
• Print page