After a , the consumer confidence indicator calculated by the Central Bank of Luxembourg continued declined in February, the BCL said in a  issued on 27 February. The indicator dropped from -8 to -12.

All four components of the indicator decreased, noted the BCL. Consumers’ view of the expected general economic situation in Luxembourg dropped from -13 in January to -21 in February, while the perception of financial situation of households decreased from -4 to -9. The expected financial situation of households declined slightly (from -1 to -2), as did intentions to spend money on major purchases (-14 to -15).

Calculated every month, the central bank’s consumer confidence indicator is the arithmetic mean of four seasonally adjusted components: consumers’ expectations for the general economic situation in Luxembourg, perception of households’ financial situation over the past 12 months, expected financial situation of households over the next 12 months and intended spending on major purchases (like furniture or electrical devices).

The figures for the individual components are constructed as the difference between the percentage of survey respondents who give positive replies and those who give negative replies, explains the BCL.