After correction for seasonal effects, consumer confidence has fallen sharply in May 2005, to -22. In the last four months consumer confidence increased. Confidence is still higher than at the beginning of the year, according to Statistics Netherlands’ consumer confidence survey. The decline in consumer confidence was caused mainly by consumers’ opinions on the economic climate.
Opinion on economic climate deteriorates sharply
Consumers’ opinions on the economic climate deteriorated sharply after correction for seasonal effects, while in the last few months, it improved strongly.
Consumers are considerably more pessimistic about the economic climate in the coming twelve months. For the first time in three months this indicator is negative: in other words there are more pessimists than optimists. Consumers’ opinions on the economy in the last twelve months also deteriorated.
Willingness to buy remains stable
Willingness to buy has remained nearly unchanged this month. This indicator is based on consumers’ opinions on the financial situation of their own households and on whether they think it is a good time to buy expensive consumer goods. Consumers are more negative about their own finances in the coming twelve months. Their opinions on their household finances in the last twelve months and on buying expensive durable goods have hardly changed.
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