Consumer confidence survey

Consumer confidence increases in December 2023.

The Banque centrale du Luxembourg’s consumer confidence indicator has increased in December 2023.

All the components of the indicator have evolved favourably this month. In December, households have upgraded significantly their expectations for the general economic situation in Luxembourg as well as their intentions in terms of major purchases. In the meantime, they have moderately revised upwards both their perceptions and expectations related to their financial situation.  

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

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	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
	December	-14	-13	-9	-4	-29

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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