Consumer confidence survey

Consumer confidence recovers in March 2024.

 

The Banque centrale du Luxembourg’s consumer confidence indicator has recovered in March 2024.

All the components of the indicator have evolved favourably this month, with the exception of households’ intentions in terms of major purchases, which have decreased considerably. In March, households have revised up significantly their expectations for both the general economic situation in Luxembourg and their personal financial situation. In the meantime, households have even more substantially upgraded their perceptions regarding their past financial situation.  

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

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
2022	March	-24	-44	-12	-18	-21
	April	-22	-33	-17	-18	-19
	May	-22	-34	-16	-16	-20
	June	-23	-40	-16	-18	-20
	July	-24	-45	-15	-17	-18
	August	-26	-41	-20	-17	-27
	September	-30	-47	-17	-30	-25
	October	-26	-40	-16	-25	-24
	November	-24	-37	-14	-13	-30
	December	-20	-27	-16	-16	-20
2023	January	-16	-23	-14	-8	-20
	February	-16	-18	-17	-5	-26
	March	-13	-17	-13	-4	-19
	April	-18	-22	-17	-6	-28
	May	-16	-24	-13	-4	-23
	June	-14	-17	-14	-4	-19
	July	-18	-19	-18	-5	-30
	August	-14	-23	-8	-2	-23
	September	-17	-25	-11	-4	-27
	October	-17	-18	-18	-7	-26
	November	-15	-14	-10	-6	-32
	December	-13	-10	-9	-4	-29
2024	January	-12	-18	-7	-4	-20
	February	-13	-20	-14	-5	-11
	March	-10	-16	-5	2	-21

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.

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