Unlike consumers, who have been overtly pessimistic for quite some time now, manufacturers remain optimistic about the state of the Dutch economy, but confidence among producers in manufacturing industry and providers of business services has been waning in recent months. The mood in the construction sector, on the other hand, is still jubilant. Declining optimism agrees with the prevailing idea that the economic situation is slightly less positive.
Producer confidence in manufacturing industry and consumer confidence
Manufacturers still optimistic
Manufacturers are still positive, but the mood is less exuberant than in 2007 and the first months of 2008. In January 2008, the mood indicator reached a new record high. From then on, confidence began to deteriorate. In July, the indicator stood at 2.4, the lowest score since September 2005.
Since the summer of 2007, consumer confidence has collapsed completely. Pessimism currently prevails. In July, the confidence indicator plummeted to -31, all but the lowest score ever. In the course of the past year, Dutch consumers became far more pessimistic about the economic climate. Their willingness to buy also declined, albeit less substantially.
Opinions business service providers
Confidence among business service providers on the way down
The mood among providers of business services peaked in mid-2007 and subsequently slackened. Their opinions on the amount of orders received is still positive, but deteriorating each quarter. The same trend can be observed with respect to their view on the economic climate.
Confidence prevails in Dutch construction sector
Construction sector very optimistic
Optimism in the construction sector also appeared to have faded in recent months. However, figures compiled by the European Commission show that the Dutch construction sector has regained optimism in July. Confidence in the construction sector has not been this high since the end of 2000.
Karlijn Bakker, Sidney Vergouw