Consumer confidence continues to fall

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Consumers are more gloomy in August than they were in July, breaking the record low in consumer confidence for the fourth time this year. In August, consumer confidence is -54, compared to -51 in July. Consumers were never before so pessimistic about the economic situation over the past twelve months and their financial situation in the past twelve months.
At -54, the consumer confidence indicator in August is positioned well below its long-term average over the past two decades (-9). The indicator reached an all-time high (36) in January 2000 while the all-time low (-54) was reached in August 2022. CBS has monitored consumer confidence since April 1986.

Consumers more pessimistic than ever about the economic climate

 Consumers are more pessimistic about the economy in August than they were in July. This component indicator stands at -74, compared to -71 in July. Consumers have not been so pessimistic about the economy since the beginning of the time series in 1986. They are both more negative about the economy in the past twelve months and about the economy in the next twelve months.

Willingness to buy at historically low level

In August, consumers’ willingness to buy stands at -41, compared to -38 in July. This is a record low as well. Consumers are more pessimistic about both their financial situation in the next twelve months and their financial situation over the past twelve months. They find the time for making large purchases about as unfavourable as in the previous month. Never before have consumers been this negative.

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