The fact that love literally goes through the stomach is also confirmed by the most recent APA/OGM confidence index: bakeries, dairies and breweries enjoy the highest level of consumer confidence in Austria. However, they do not have a good gut feeling when it comes to sectors such as mineral oil, internet/telecom/mobile phones, banks, insurance companies, construction and pharmaceutical companies. We currently encounter a large portion of distrust in the media, energy suppliers, brokers or gambling providers.
At the top of the industry confidence are the home bakeries with a confidence balance of +68 points (80 percent trust them, only twelve percent don’t). Basic foods such as daily bread and dairy products are not only culinary appreciated by Austrians. The same goes for beer with the increasing variety of types and small breweries, according to OGM expert Johannes Klotz.
Now probably less confidence in furniture stores
The OGM Confidence Index consists of an online survey of 1044 eligible voters aged 16 and over in Austria. The trust balance is calculated as the difference between the percentages of “trust” and “not trust”.
The survey was conducted from June 2 to June 7, 2023, i.e. largely before it was announced on June 6 that 24 of the 40 Kika/Leiner stores would be closed and 1,900 of the 3,900 employees laid off – otherwise the balance of confidence for the furniture stores would be his (eleven points) was probably less positive.
Much confidence is placed in hardware stores and garden centres, which are currently busy, but also in drugstores and the sporting goods trade.
Expensive groceries
Food, fashion and shoe retail, the aforementioned furniture stores and tourism/travel follow at a distance – but still with a plus in confidence. With an index value of +16 points, the supermarket chains are confident plus, but may have lost some ground in the course of recent discussions about price increases, says OGM expert Klotz.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
