In November, Luxembourg households’ consumer confidence saw a slight increase from October, as per the data released by the Luxembourg Central Bank (BCL) on Wednesday 29 November. This rise came amidst varying trends within the index’s components.

The confidence indicator, a composite average of four components, showed improvements in three areas: the anticipated economic climate in Luxembourg, the financial situation of households in the past and expectations for the next 12 months.

However, the fourth component, ‘intended spending on major purchases,’ is at the lowest level since the BCL adopted the European Commission’s revised consumer confidence indicator in 2018. This index measures the balance between positive and negative responses from survey participants.

Despite the overall uptick in the indicator, all components remained in negative territory in the November survey. Households in Luxembourg showed a particular hesitancy towards planned expenditures on significant items like electronics or furniture. This reluctance likely stems from the uncertain economic environment and worsening personal financial situations, indicating a more cautious stance towards major financial commitments.

Overall, the consumer confidence indicator in Luxembourg experienced a modest single-point increase in November, reflecting a mix of optimism and economic apprehension.