Despite this uptick, consumer confidence in January remains significantly below the long-term average of minus 10 observed over the past two decades. The indicator peaked at 36 in January 2000 and hit an all-time low of minus 59 in September and October 2022.

In January, consumers exhibited less pessimism about the economy compared to December. The component indicator for economic outlook improved to minus 39, up from minus 41 in the previous month. This change reflects an improvement in consumers' assessments of the economic situation over the past twelve months, although their expectations for the next twelve months turned slightly more negative, as per CBS.

Regarding the willingness to buy, the indicator was less negative in January, standing at minus 20, compared to minus 21 in December. Consumers felt more positive about their own financial situation over the past year, while their outlook for the next year remained unchanged. Additionally, there was a slight decrease in negativity towards making large purchases in January compared to the previous month.

Fibre2Fashion News Desk (DP)