Sustained improvement in consumer confidence

The component indicator Economic climate increased 10 points in March to reach 4. It was the first time since August 2007 that the indicator was above zero again. Consumers’ opinions about the economic climate in the next twelve months improved most notably. In March, for the fifth month in a row, consumers were positive about the economic situation in the next twelve months. At 24, the indicator reached its highest level for 7 years. Consumers’ opinions on the economic climate in the past 12 months was also considerably better in March than in February.

Willingness-to-buy remained fairly stable in March. Consumers thought the time to buy expensive items like washing machines and TV sets was less favourable than in the preceding month and their opinions about their own financial situation in the past twelve months were slightly more negative. Consumers’ opinions on their financial situation in the next twelve months improved somewhat. On balance, the component indicator Willingness-to-buy fell by 1 point to -13. Willingness-to-buy remains at a low level.

Consumer confidence, seasonally adjusted