Consumer confidence survey

Consumer confidence recovers in December 2024.

 

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

The components of the indicator have evolved in various ways this month. In December, households marginally revised upwards their expectations regarding the general economic situation in Luxembourg, while they lowered those regarding their own future personal financial situation significantly. In the meantime, households’ perceptions of their past financial situation and their intentions to make major purchases have improved significantly.

In total, the consumer confidence indicator, which is the arithmetic mean of the four components[1], has declined sharply 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
2022	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
	November	-14	-16	-13	-1	-25
	December	-13	-15	-10	-5	-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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