Consumer confidence declining further

At -30, the consumer confidence indicator in February is positioned well below its long-term average over the past two decades (-8). The indicator reached an all-time high (36) in February 2000 and an all-time low (-41) in March 2013.

Consumers again more pessimistic about the economy

Consumers’ sentiment about the economic climate is more negative than in January. This component indicator stands at -46, down from -43. Consumers are more negative about the economic situation over the past twelve months. About the economic situation over the next twelve months, they are just as pessimistic as last month.

Willingness to buy at lowest level in over eight years

Consumers’ willingness to buy stands at -20, down from -18 in January, this is the lowest level in over eight years. Consumers are more negative both about their financial situation in the next twelve months and about their financial position in the past twelve months. Furthermore, they find the time for large purchases less favourable than in January.

More and more consumers classify price increases as sharp

In February, 66 percent of consumers have classified the price increases in the past year as sharp. This is the highest percentage since the beginning of the time series in 2017. The percentage expecting inflation to accelerate in the coming twelve months decreased from 37 In January to 32 in February.