Consumer confidence in Luxembourg slipped last month, but households were more positive about their personal balance sheets and spending plans for 2020.
The Luxembourg Central Bank (BCL) said its monthly consumer confidence indicator dropped from -2 in November 2019 to -3 in December 2019. (The figure was -1 in both December 2018 and December 2017).
The score represents the “difference between the percentages of respondents giving positive and negative replies” in its monthly polls.
According to the BCL, the indicator’s four underlying components “evolved in contrasting ways”. Namely:
The score for “consumers’ expectations of the general economic situation in Luxembourg” slumped from 0 in November 2019 to -6 in December 2019. (It was 8 in December 2018 and 4 in December 2017.)
The gauge of households’ “perception of their financial situation over the past 12 months” increased from -2 in November 2019 to 0 in December 2019. (By comparison, it was 2 in December 2019 and 4 in December 2017.)
The metric for households’ “expected financial situation over the next 12 months” declined from 7 in November 2019 to 5 in December 2019. (It was 4 in December 2018 and 3 in December 2017).
The measure for “intended spending on major purchases (furniture, electrical devices…)” improved from -12 in November 2019 to -8 in June. (It was -17 in December 2018 and -16 in December 2017.)