"We have to hope for an improvement in consumer spending in 2024".

- says Univ.-Prof. Dr. Christoph Teller (Institute Director, Dean of the Business School at JKU Linz) in an interview on the financial situation of Austrians.

A survey conducted by Dr. Ernst Gittenberger of the Institute for Retailing, Sales and Marketing at the JKU Linz shows that the financial situation of many households continues to be strained. In view of the inflation, the respondents are pessimistic about their financial situation. Consumers are postponing purchases and increasingly taking advantage of special offers (discounts, reductions, etc.). Also, more and more Austrians have to fall back on their savings.

However, the financial situation is expected to improve in the coming year, which will lead to an increase in consumer spending. This will also have a positive effect on the domestic economy.