Dutch consumer less pessimistic about economy

25/09/2008 09:30

In September, Dutch consumers regained some confidence in the economy. For the second month in a row, the mood among consumers improved. Consumers were especially less negative about the economic climate. Nevertheless, optimists were still heavily outnumbered by pessimists. The confidence indicator rose from -27 to -22. Over the past two decades, pessimists marginally outnumbered optimists. The long-term average stands at -4.

Indicators consumer confidence

Indicators consumer confidence

Within two months, confidence in the economic future has recovered from the heavy blow it took in July. In September, opinions on the economic situation in the twelve months to come rose by 8 points to -39. In July, the indicator stood at -59. Consumers’ opinions on the state of the economy over the past twelve months also improved considerably. Nevertheless, consumers remained rather pessimistic about the economic climate in the Netherlands.

Consumers’ willingness to buy also improved in September, though to a lesser degree than the economic climate. Consumers were less negative about the immediate financial future of their own household and about their financial situation in the past twelve months. They were also slightly less negative about buying expensive items, such as washing machines or cars, compared to last month.

Consumer confidence, seasonally adjusted

Consumer confidence, seasonally adjusted

The survey took place on the first ten working days of September, i.e. from Monday 1 up to and including Friday 12 September. Shortly after the survey was conducted, turmoil on the American financial markets caused shares to plummet. The day of the official opening of the Parliamentary Year was outside the survey period.