Consumer confidence reaches new all-time low

21/09/2022 15:00

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Consumers are more gloomy in September than they were in August, breaking the record low in consumer confidence for the fifth time this year. In September, consumer confidence stands at -59, compared to -54 in August. Consumers were never before so pessimistic about the economic situation and their financial situation.

At -59, the consumer confidence indicator in September 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 (-59) was reached in September 2022. CBS has monitored consumer confidence since April 1986.

Consumer confidence, seasonally adjusted
year	month	balance (average of the component questions)
2018	October	15
2018	November	13
2018	December	9
2019	January	1
2019	February	-2
2019	March	-3
2019	April	-3
2019	May	-3
2019	June	-1
2019	July	1
2019	August	-1
2019	September	-2
2019	October	-1
2019	November	-2
2019	December	-2
2020	January	-2
2020	February	-2
2020	March	-3
2020	April	-23
2020	May	-31
2020	June	-27
2020	July	-26
2020	August	-29
2020	September	-28
2020	October	-30
2020	November	-26
2020	December	-19
2021	January	-19
2021	February	-19
2021	March	-18
2021	April	-14
2021	May	-9
2021	June	-3
2021	July	-4
2021	August	-6
2021	September	-5
2021	October	-10
2021	November	-19
2021	December	-25
2022	January	-28
2022	February	-30
2022	March	-39
2022	April	-48
2022	May	-47
2022	June	-50
2022	July	-51
2022	August	-54
2022	September	-59

Consumer confidence, seasonally adjusted
year	month	balance (average of the component questions)
2018	October	15
2018	November	13
2018	December	9
2019	January	1
2019	February	-2
2019	March	-3
2019	April	-3
2019	May	-3
2019	June	-1
2019	July	1
2019	August	-1
2019	September	-2
2019	October	-1
2019	November	-2
2019	December	-2
2020	January	-2
2020	February	-2
2020	March	-3
2020	April	-23
2020	May	-31
2020	June	-27
2020	July	-26
2020	August	-29
2020	September	-28
2020	October	-30
2020	November	-26
2020	December	-19
2021	January	-19
2021	February	-19
2021	March	-18
2021	April	-14
2021	May	-9
2021	June	-3
2021	July	-4
2021	August	-6
2021	September	-5
2021	October	-10
2021	November	-19
2021	December	-25
2022	January	-28
2022	February	-30
2022	March	-39
2022	April	-48
2022	May	-47
2022	June	-50
2022	July	-51
2022	August	-54
2022	September	-59

Consumers more pessimistic than ever about the economic climate

Consumers are more pessimistic about the economy in September than they were in August. This component indicator stands at -79, down from -74 in August. Consumers have not been so pessimistic about the economy since the beginning of the time series in 1986. They are more negative about both the economy in the past twelve months and about the economy in the next twelve months.

Willingness to buy at historically low level

In September, consumers’ willingness to buy stands at -46, compared to -41 in August. This is a record low as well. Consumers are more pessimistic than ever before about both their financial situation in the next twelve months and their financial situation over the past twelve months. They are also more negative than ever before about making large purchases.

Fewer people think they can put money aside

In September, 46 percent of the respondents find it unlikely or very unlikely than they can put money aside in the next twelve months. This is the highest percentage since the beginning of the time series in 2017. The percentage considering it likely or very likely that they can put money aside has dropped to 50. Furthermore, 85 percent of the respondents classifies the price increases over the past year as sharp. This is a record high as well.

Over the next twelve months, how likely is it that you save any money?
Year	Month	(Very) unlikely	(Very) likely	Don't know
2018	oktober	37	58	6
2018	november	38	58	4
2018	december	37	56	7
2019	januari	39	58	3
2019	februari	37	60	4
2019	maart	39	54	7
2019	april	37	58	5
2019	mei	39	57	4
2019	juni	36	59	5
2019	juli	37	59	4
2019	augustus	35	59	6
2019	september	38	56	6
2019	oktober	38	57	5
2019	november	41	54	6
2019	december	37	56	7
2020	januari	36	58	5
2020	februari	34	60	5
2020	maart	33	62	6
2020	april	40	55	5
2020	mei	33	61	6
2020	juni	32	61	7
2020	juli	31	63	6
2020	augustus	32	63	5
2020	september	32	63	5
2020	oktober	32	61	7
2020	november	32	62	6
2020	december	27	66	7
2021	januari	29	65	5
2021	februari	28	65	7
2021	maart	30	64	6
2021	april	29	65	6
2021	mei	28	67	5
2021	juni	26	69	5
2021	juli	32	62	6
2021	augustus	29	65	6
2021	september	32	63	5
2021	oktober	33	62	5
2021	november	36	59	5
2021	december	36	59	6
2022	januari	35	62	3
2022	februari	36	59	5
2022	maart	37	56	7
2022	april	37	57	6
2022	mei	35	60	5
2022	juni	38	56	6
2022	juli	35	61	4
2022	augustus	40	55	5
2022	september	45	50	4

Over the next twelve months, how likely is it that you save any money?
Year	Month	(Very) unlikely	(Very) likely	Don't know
2018	oktober	37	58	6
2018	november	38	58	4
2018	december	37	56	7
2019	januari	39	58	3
2019	februari	37	60	4
2019	maart	39	54	7
2019	april	37	58	5
2019	mei	39	57	4
2019	juni	36	59	5
2019	juli	37	59	4
2019	augustus	35	59	6
2019	september	38	56	6
2019	oktober	38	57	5
2019	november	41	54	6
2019	december	37	56	7
2020	januari	36	58	5
2020	februari	34	60	5
2020	maart	33	62	6
2020	april	40	55	5
2020	mei	33	61	6
2020	juni	32	61	7
2020	juli	31	63	6
2020	augustus	32	63	5
2020	september	32	63	5
2020	oktober	32	61	7
2020	november	32	62	6
2020	december	27	66	7
2021	januari	29	65	5
2021	februari	28	65	7
2021	maart	30	64	6
2021	april	29	65	6
2021	mei	28	67	5
2021	juni	26	69	5
2021	juli	32	62	6
2021	augustus	29	65	6
2021	september	32	63	5
2021	oktober	33	62	5
2021	november	36	59	5
2021	december	36	59	6
2022	januari	35	62	3
2022	februari	36	59	5
2022	maart	37	56	7
2022	april	37	57	6
2022	mei	35	60	5
2022	juni	38	56	6
2022	juli	35	61	4
2022	augustus	40	55	5
2022	september	45	50	4

Sources

StatLine - Consumer confidence, economic climate and willingness to buy

Consumers more pessimistic than ever about the economic climate

Willingness to buy at historically low level

Fewer people think they can put money aside

Sources

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