Big spending on hold as consumers lose confidence

People living and working in the Grand Duchy made a U-turn when asked about their perceived economic situation after still being upbeat in June.

In July, Luxembourg residents surveyed by the country’s central bank said they were planning to put on hold any significant spending as the perception of their personal financial situation declined. When asked the same question a month ago, optimism prevailed.

At the same time, people’s expectation about the future economic situation in the country, and their personal finances remained unchanged at a much better level than when both indicators plummeted in April.

The Consumer Confidence Index is published monthly by the Luxembourg Central Bank.

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