Opinions about both the economic climate and willingness to buy deteriorated. The recovery of consumer confidence after the absolute low in October 2022 stalled in the course of 2024.
The figure of minus 32 is positioned well below minus 10, the long-term average for the previous 20 years. The indicator reached its all-time high (36) in January 2000, while the all-time low (minus 59) was reached in September and October 2022.
Consumers are more pessimistic about the economy in February than they were in January. This component of the indicator fell to minus 54, compared to minus 50 in January.
Consumers’ assessment of both the economic situation over the previous 12 months and the economic outlook for the next 12 months has deteriorated, a CBS release said.
Willingness to buy among consumers stood at minus 17 in February, down from minus 14 in January. Consumers’ opinions on their personal financial situation over the previous 12 months and their assessment of the next 12 months were more negative.
Consumers were also more negative about making large purchases in February than they were in January.
ALCHEMPro News Desk (DS)
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