According to the BCL’s monthly consumer confidence survey, all the components of the indicator changed unfavourably in July.
Households “revised downwards their expectations regarding the general economic situation in Luxembourg and their expectations for their future financial situation”, explained the BCL in its press release. They did the same with the perception of their past financial situation. Their intentions to make major purchases fell sharply to -30 points, a level not seen since last November.
The confidence indicator fell to -17 last month, down five points on June. It had reached its lowest level in September 2022 at -29 points.
