“Since just over a year ago, uncertainty among households has increased significantly and it has become increasingly difficult for households to predict their financial situation,” KI writes about the development.
The household confidence indicator rose marginally by 0.2 percent in August, to 56.3. This compares with the historic low of 56.1 in July.
KI’s barometer indicator for August falls at the same time by 3.9 to 97.5, down from 101.4 and is thus below the historical average for the first time since January 2021.
The confidence indicator for the manufacturing industry decreased by 3 units, but still remains at a high level, according to KI.
“The development in August is primarily explained by the companies’ less optimistic expectations regarding future production,” writes KI.
The confidence indicator for construction activities rose by 1.5 units, while the indicator for house building fell by 0.7 units, according to KI.
“The retail confidence indicator rose marginally, from 92.4 to 92.8, and continues to point to a weaker than normal mood. The mood improved greatly for the daily goods trade, while the indicator for the non-durable goods trade fell back,” writes KI.