Austria: Consumer confidence falls to all-time low July
July 27, 2022
Consumer confidence fell to minus 33.0 in July from June's minus 24.0. July's result marked the weakest sentiment on record. As a result, the index indicating sustained among consumers.
The deterioration was driven by worsening views on households’ financial situation and the general economic climate over the past 12 months and in the year ahead. The war in Ukraine has fueled inflation, which is weighing heavily on sentiment levels. Moreover, consumers view their current financial situation less favorably and they are less inclined to purchase big-ticket items over the next 12 months.
Author: Jan Lammersen, Economist