The still positive outlook for general economic development and unemployment continues to be clouded by below-average expectations of consumers’ own budget. A reason is likely to be inflation, which is perceived more strongly and is subduing households’ purchasing power.

At -6 points, the October 2018 consumer sentiment index  is almost unchanged in comparison to July (-7 points). Since the marked decline in the summer, prospects have remained practically the same. The latest survey therefore confirms that consumers are less optimistic about the future than in the first half of 2018. Nevertheless, consumer sentiment is still slightly above the long-term average (-9 points).