Luxembourg CCI Plummets

Consumer confidence in Luxembourg fell in August amid lower expectations for the country’s economic performance over the next year. The monthly survey by Luxembourg’s central bank measures consumer confidence based on expectations for the economy, unemployment, household finances and household savings, RTTNews reported. The survey shows that Luxembourg’s households, in addition to having less faith in the country’s economic situation, were less confident in their ability to save in August. The two measures “strongly deteriorated” over the month, the bank said. Concerns related to unemployment receded slightly, however, while expectations surrounding personal finances remained stable. Overall, confidence dropped to 13 points, its lowest level since April. The indicator stood at 17 in July and 20 in January.