Banque Centrale du Luxembourg

06/03/2024 | Press release | Distributed by Public on 06/04/2024 08:39

Consumer confidence survey

Consumer confidence survey

03.06.2024

Consumer confidence declines in May 2024.

The Banque centrale du Luxembourg's consumer confidence indicator has declined in May 2024.

The components of the indicator have evolved in various ways this month. In May, households have downgraded their expectations for both the general economic situation in Luxembourg and their future personal financial situation. In the meantime, households have revised upwards their perceptions regarding their past financial situation and their intentions in terms of major purchases.

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

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

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

April

-9

-8

-6

2

-24

May

-11

-15

-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.