Consumer confidence survey

Consumer confidence increases significantly in October 2024.

 

The Banque centrale du Luxembourg’s consumer confidence indicator has significantly increased in October 2024.

The components of the indicator have evolved in various ways this month. In October, households' expectations relating to both the general economic situation in Luxembourg and their own future personal financial situation were revised significantly upwards. In the meantime, households' perceptions regarding their past financial situation have deteriorated again while their intentions in terms of major purchases have fallen sharply.

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

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	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
	April	-9	-8	-6	2	-24
	May	-11	-15	-5	-2	-21
	June	-10	-13	-11	2	-16
	July	-13	-13	-10	-5	-26
	August	-13	-13	-3	-4	-31
	September	-10	-11	-5	-2	-20
	October	-9	-6	-9	1	-24

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.

This survey is co-financed by the European Commission.

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