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Consumer Expectations Survey

The Consumer Expectations Survey collects high-frequency information on perceptions and expectations of households in the euro area, as well as on their economic and financial behaviour.

The main areas of focus are:

  • Inflation
  • Consumption and income
  • Housing market activity and house prices
  • Labour market conditions
  • Consumer finance, savings and investment
  • Borrowing and credit access conditions
  • Central bank communication
  • The general economic outlook, monetary policy and other central bank-related topics

About the survey

The Consumer Expectations Survey supports the pursuit of our price stability mandate by improving the analytical basis for the ECB’s economic and monetary analysis. The survey can improve our understanding of financial vulnerabilities in the household sector and challenges to financial stability.

The survey was first piloted in January 2020. The pilot phase enabled thorough evaluation of the quality and usefulness of the survey responses. The survey entered a new development phase in July 2021, which aims to further improve and enhance the survey’s overall coverage and quality.

The Consumer Expectations Survey is conducted online each month. The results contribute to the data used for timely policy analysis and complements other data sources used by the ECB. The sample size during the pilot phase targeted approximately 10,000 respondents. The number of targeted respondents will be increased steadily over the development phase, allowing better analysis of the behaviour of certain population subgroups and enhancing the overall quality of the data. During the pilot phase participants were located in six euro area countries:

  • Belgium
  • France
  • Germany
  • Italy
  • The Netherlands
  • Spain

There are plans to add more countries during the development phase to increase the survey’s coverage.

As with other surveys, fieldwork is conducted together with an external research company. The ECB appointed Ipsos Public Affairs to provide advice and manage the “What You Expect” Consumer Expectations Survey panel. Respondents’ personal data is not shared with the ECB.

For more information, please contact ECB-CES@ecb.europa.eu.

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