There was a modest rise in consumer confidence in August compared to July, despite mixed trends in the various components of the index, data from Luxembourg’s central bank, the BCL, released on Wednesday 6 September, showed.
The confidence metric incorporates four criteria: public outlook on Luxembourg’s economic climate, retrospective and prospective personal finances, and their planned expenditure on significant purchases such as electronics or furniture. The index captures the difference between the proportions of survey participants offering positive and negative assessments.
Although all components remain in negative territory, August saw distinct shifts in household sentiments in Luxembourg.
In August, households considerably diminished their expectations concerning the general economic landscape in Luxembourg, whilst concurrently elevating those related to their forthcoming financial situation.
They have also enhanced their perceptions of their past financial standing.
As for intentions regarding substantial acquisitions, these have seen a significant surge in August.
Overall, the consumer confidence indicator, constituting the arithmetic mean of these four seasonally adjusted components, witnessed a three point improvement in August.