Consumer Confidence Indicator Deteriorates Sharply in March 2026

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Consumer confidence survey

30.03.2026 Ce contenu est également disponible en français Consumer confidence deteriorates sharply in March 2026.

The consumer confidence indicator established by the Banque centrale du Luxembourg has deteriorated sharply in March 2026.

All components of the indicator evolved unfavourably this month, with the exception of households' perceptions of their past financial situation, which improved. In March, households dramatically lowered their expectations regarding both the general economic situation in Luxembourg and their own future financial situation, as well as their intentions in terms of major purchases.

In total, the consumer confidence indicator – which is the arithmetic mean of the four components [1] – has deteriorated sharply in March 2026.

The results are presented in the table below:

| | | Consumer confidence indicator | Expected general economic situation in Luxembourg | Perception of financial situation of households | Expected financial situation of households | Intended spending on major purchases |
| 2024 | March | -10 | -16 | -5 | 1 | -22 |
| | April | -8 | -9 | -6 | 2 | -21 |
| | May | -11 | -16 | -5 | -2 | -21 |
| | June | -10 | -13 | -11 | 1 | -16 |
| | July | -13 | -13 | -10 | -5 | -24 |
| | August | -13 | -13 | -3 | -5 | -31 |
| | September | -10 | -11 | -6 | -2 | -20 |
| | October | -10 | -8 | -8 | 1 | -24 |
| | November | -13 | -16 | -13 | -1 | -24 |
| | December | -13 | -15 | -10 | -4 | -20 |
| 2025 | January | -8 | -14 | -2 | -1 | -14 |
| | February | -11 | -21 | -8 | -2 | -14 |
| | March | -12 | -17 | -6 | 0 | -25 |
| | April | -16 | -34 | -6 | -5 | -21 |
| | May | -7 | -13 | -5 | 0 | -11 |
| | June | -12 | -18 | 2 | -1 | -31 |
| | July | -10 | -21 | -7 | 3 | -16 |
| | August | -9 | -21 | 1 | 2 | -19 |
| | September | -11 | -21 | -3 | -2 | -16 |
| | October | -10 | -9 | -9 | 1 | -21 |
| | November | -5 | -16 | -2 | -1 | -2 |
| | December | -8 | -16 | -4 | 2 | -16 |
| 2026 | January | -8 | -11 | -4 | -1 | -16 |
| | February | -6 | -9 | -6 | 3 | -13 |
| | March | -16 | -30 | -4 | -7 | -21 |
Note: The consumer confidence indicator results from the average of balances related to (1) consumers’ expectations of the general economic situation in Luxembourg; (2) the perception of their financial situation over the past 12 months; (3) their expected financial situation over the next 12 months; and (4) their intended spending on major purchases (furniture, electrical devices…). Balances are constructed as the difference between the percentages of respondents giving positive and negative replies.

This survey is co-financed by the European Commission.

[1] The four components of the consumer confidence indicator are seasonally adjusted.

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