Micro Index = financial position of household (assessment of present situation) + financial position of household (expectations) + right time to make major purchases (assessment of present situation) + major purchases by household (expectations).

The confidence indicator is a mean of the net balances (seasonally adjusted and standardised) for the questions above. This time series is then standardised into a new series with a mean of 100 and a standard deviation of 10 as from 1996.

Further results and information about the Economic Tendency Survey are available at the National Institute of Economic Research.

National Institute of Economic Research