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Consumers remain cautious about the economy and about spending on big ticket items, but perception of their personal financial situation was stable, Luxembourg’s central bank said on Thursday. Library picture: Shoppers in Luxembourg City, June 2020. Photo credit: Matic Zorman 

The central bank’s consumer confidence indicator for February 2021 was -9, compared to -7 for January 2021, -11 for December 2020 and -3 for February 2020. (The indicator hit -24 in April 2020 and then was -10 or less for the rest of the year.)

The indicator represents “the difference between the percentages of respondents giving positive and negative replies” across four components and is seasonally adjusted.

The BCL said the score for “consumers’ expectations of the general economic situation in Luxembourg” was -22 for February 2021, compared to -14 for January 2021, -22 for December 2020 and -5 for February 2020.

The balance of households’ “perception of their financial situation over the past 12 months” was 0 for February 2021, compared to 3 for January 2021, -5 for December 2020 and +3 for February 2020.

“Their expected financial situation over the next 12 months” was likewise 0 for February 2021, unchanged from January 2021 and December 2020, and was the same score recorded for February 2020.

The central bank said that its sub-indicator for consumers’ “intended spending on major purchases” was -15 for February 2021, compared to -18 for January 2021, -15 for December 2020 and -9 for February 2020.