APRIL 2009
Consumer confidence climbed a modest point to -41 compared with the previous month although fear of unemployment worsened with the indicator jumping four points to 82, back to December levels when redundancy plans made headline news nearly daily. In addition, the savings capacity over the next twelve months index slid one point to -14, back where it stood in April last year. With the economic downturn, the opportunity to save money indicator also fell back significantly, to 10 from the previous month 14, despite households awareness of past and future consumer prices substantial declining trends.
Households also expressed worries about their personal financial situation over the last twelve months, as the indicator fell two points to -27 and stagnated around a modest point for the fourth consecutive month. Over the next twelve months, households remained pessimistic with the indicator dipping two points to -18 at levels similar to September at the beginning of the financial crisis. However, and despite such grim indicators, households standard of living over the next twelve months sentiment climbed four points to -55 although the opportunity to make significant purchases indicator fell back two points to -31.
MAY 2009
Consumer confidence climbed a modest point, to -40, and for the third consecutive months but the index details revealed accrued pessimism among households as six indicators deteriorated: regarding their personal financial situation over the past twelve months, consumers’ confidence fell back one point to -28, stagnating thus around this level since November. Over the next twelve months, the indicator picked up one point to -17, a level identical to September, while confidence eroded one point to 11 as regards their current personal financial situation.
Despite households acknowledgement that price trends over the last twelve months have declined substantially, the index fell five points to -17, households showed skepticism as to such prolonged downward trend and sent the price trend over the next twelve months indicator up two points to -55.
As a result, and for the second consecutive month, the opportunity to save money over the next twelve months indicator, dipped five points to -20, and the current savings capacity slid back two points to seven. Fears of unemployment topped a new high to 88 points, as a direct consequence of the recession. Households standing of living over the past twelve months stagnated for the seventh month at -76 but in paradox, over the next twelve months climbed three points to -51 with the opportunity to make significant purchases up two points to -28 as car fleet renewals brought back confidence to some degree.
JUNE 2009
Consumer confidence rose three points, to -37, compared with May, the strongest leap since March, and for the fourth consecutive month as a series of factors --record low inflation, subdued oil prices, car fleet renewal incentives, and additional stimulus packages-- brought some relief to households’ concerns over the economic downturn. As a result, one of the index major component, personal financial situation over the past twelve months recorded the strongest increase, five points to -23, (-35 a year ago) while over the next twelve months, households stayed prudent taking the index up two points to -14.
As regards their standing of living over the past twelve months the index gain remained modest, up two points to -74 (-79 last year) while over the next twelve months, households showed stronger assurance, as the index increased by three points to -48 (-59 a year ago). The opportunity to make significant purchases indicator stagnated however at -28, and for the second consecutive month, (-38 a year ago) as households concerns over unemployment over the next twelve months worsened and reached a new historical high at 95 (78 a year ago). The savings over the next twelve months index thus improved three points to -17 (-21 last June) while the savings at present indicator edged one point to 8, a record low compared with 19 a year ago.
Other sub-indices nevertheless climbed back, although modestly: households felt that their current personal financial situation has improved, one point to 13, but twice the level reached a year ago, as the price trends over the past twelve months index fell further to -24 (compared with an inflationary 62 a year ago) along with price trends over the next twelve months, which households foresee as decreasing further, at a more modest two points however to -53 (-28 last year).
