Luxembourgers delay major purchases due to low confidence in market

Consumers’ market confidence in Luxembourg is now at -26. Luxembourgers haven’t been too positive about the country’s economy and their own financial situation in the past. But in 2022, a new factor was added to the mix. Residents of the country are postponing large purchases. They have no confidence in future financial stability. So they simply prefer to save money.

How is the confidence index calculated? It’s the difference between the percentage of respondents who answered yes and no to a question about the market. Over the past three years, the index has only stopped showing negative for two months — in May 2019 and June 2021. But the current peak of distrust in the market is still a record one. It broke the negative maximum (-24) observed in 2020 at the height of the covid epidemic.