Consumer confidence still on the rise
(CS) Consumer confidence in Luxembourg experienced a small boost in November, reaching its highest level in two years; however, at the same time optimism about the labour market decreased.
On the whole, consumer confidence increased by one point to reach zero. Last month confidence had received the same small increase. By comparison, in November last year consumer confidence was measured at –12 and the year before at –7.
The consumer confidence study, conducted on a monthly basis by the Luxembourg Central Bank (BCL) is composed of four indicators, with three seeing an improvement this month.
These include the outlook for the next 12 months about the general economic situation in the Grand Duchy, as well as the financial situation of individual households and their capacity to save money.
However, respondents were less optimistic about the development of the labour market over the next year. While the indicator remained positive compared to the past two years, expectations about the labour market were worse in November than the month before.
Access the full report (in French) on bcl.lu