Consumers marginally more negative in May

With a headline figure of -22, the consumer confidence indicator for May is positioned well below its long-term average over the previous twenty years (-10). The indicator reached an all-time high (36) in January 2000, while an all-time low (-59) was reached in September and October 2022. Since April 1986, CBS has monitored consumer confidence every month, based on the consumer survey. Consumer confidence is an average of 5 subquestions, where the balance of positive and negative answers is taken from each question. If all consumers are positive, the balance is 100. If all consumers are negative, the balance is -100.

Consumers more pessimistic about the economy

Consumers are more pessimistic about the economy in May than they were in April. This component of the indicator fell to -38, relative to -34 in April. Both consumers’ assessment of the economic situation over the previous twelve months as their assessment of the economic outlook for the next twelve months has worsened.

Willingness to buy less negative

Willingness to buy among consumers stands at -12 in May, up from -13 in April. While consumers’ opinion on their personal financial situation over the previous 12 months has improved, their assessment of the next 12 months has deteriorated. Furthermore, consumers considered making large purchases in May less unfavourable than they did in April.