Consumer confidence falls again

Consumer confidence fell back in May by six points to -38, after a slight improvement in April, the central statistics agency CBS said on Tuesday.


Consumers were ‘much more sombre’ about the economic climate than in April, said the CBS, with confidence dropping eight points to -61.
Consumers’ confidence in their own financial future fell to an all-time low in May, dropping ten points to -25.
Not surprisingly, consumers say they are unlikely to make any large purchases in the next 12 months.
The elections in September, the extra cuts in the five-party coalition agreement and the growing debt crisis in Europe are all depressing confidence, according to the CBS.

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