After the sharp decline in July, consumer confidence increased marginally in August. The confidence indicator rose from -31 to -27. Consumers were less pessimistic about the economic climate. They were also less negative about their own financial situation than in July and as a result willingness to buy improved somewhat. Nonetheless, optimists were heavily outnumbered by pessimists.
Indicators consumer confidence
The improved mood with respect to the economic climate is entirely attributable to consumers’ improved opinions on the economic situation in the twelve months to come. Consumers remained as pessimistic about the state of the economy in the past twelve months as they were in July. August is the twelfth month in a row that pessimism about the economic climate prevails.
Consumers’ willingness to buy also improved somewhat in August. This was because consumers were less pessimistic about the financial situation of their own household. Dutch consumers were less negative about the immediate financial future. In July consumers’ willingness to buy had plummeted. This was mainly due to the fact that consumers thought it was not the right time to buy expensive items, such as washing machines or cars. In August, they held the same view.