Luxembourg’s consumer confidence indicator slumped across all categories last month, the country’s central bank said on Monday.
The monthly indicator by the Luxembourg Central Bank (BCL) saw increased pessimism across all areas assessed in November.
Also read:Luxembourg consumer confidence rises amid cooling inflation
The overall consumer confidence indicator dropped to -14, the worst result since November 2023.
The projected financial situation of households over the coming year fell to -1, slumping from 1 in October, while there was a significant decline in confidence levels about the country’s general economic situation.
The latest consumer confidence indicator comes as the agency monitoring public finances warned that unemployment is set to rise in the coming years amid slugging economic growth.
Also read:Luxembourg’s slowing economy to include fewer new jobs
Although inflation in Luxembourg is among the lowest in the eurozone at present and well below the European Central Bank’s target of 2%, the country’s official statistics agency Statec predicts that it will rise once again and reach 2.5% at the beginning of 2025.
Also read:What are the wage indexation scenarios for 2025?
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Publish date : 2024-12-02 03:44:00
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