Dutch consumer less pessimistic

25/10/2005 09:30

After correction for seasonal effects, consumer confidence has risen in October 2005, compared to one month previously. Dutch consumers are less pessimistic about the economic climate. Willingness to buy hardly changed, according to Statistics Netherlands’ consumer confidence survey.

Since early 2004 consumer confidence has been low without showing a distinct upward or downward trend. In October it was more or less at the same level as twelve months ago.

Opinions on economic climate improved

Consumers’ seasonally adjusted opinions on the economic climate were less negative in October than one month earlier. Consumers’ opinions on the economic climate improved substantially in the past twelve months. Consumers were also less negative about the economic situation in the twelve months to come.

Willingness to buy still at low level

Seasonally adjusted willingness to buy hardly changed in October and remained very low. Willingness to buy is based on consumers’ opinions about the financial situation of their households and on the answers to the question of whether it is the right time to buy expensive items. Dutch consumers were slightly more positive about their own financial situation in the past twelve months. Consumers’ opinions on their own financial situation in the coming twelve months and their willingness to buy expensive items, for example pieces of furniture, hardly changed at all.

Fewer consumers anticipate a rise in unemployment

The percentage of consumers who anticipate a rise in unemployment in the coming twelve months dropped to 38 in October. This is the fourth consecutive decrease and the lowest value since mid-2002. Two years ago no less than 80 percent of consumers anticipated a rise in unemployment.

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