The latest IHaM long-term analysis finally shows silver linings on the consumer horizon. The consumer climate is climbing and consumers' reluctance to spend is slowly easing - but there is no reason to break out in euphoria.

This is because the consumer climate is only recovering very slowly and the balance of positive and negative consumer assessments remains in the red at -13 percentage points.

The IHaM consumer surveys, which have been conducted every six months since April 2022, currently show a slight easing of consumer restraint in the retail sector. Nevertheless, 22% of consumers in Austria are still buying fewer retail goods, 49% are opting for cheaper products (e.g. private labels) and 63% are continuing to pay more attention to promotions.

"After the long dry spell for the retail sector, this modest recovery in the consumer climate almost seems like a mirage. Yes, the data is pointing upwards, but from way down", summarises Prof Dr Christoph Teller (head of the institute). "Therefore, the all-clear cannot yet be given for the retail sector," adds Dr Ernst Gittenberger.