Consumer confidence slightly down

25/11/2008 15:00

Consumer confidence decreased somewhat in November. The indicator dropped from -27 to -29. Consumers were especially more negative about the economic climate. Willingness to buy only decreased marginally. On average, pessimists slightly outnumbered optimists in the past two decades. The long term average stands at -4.

Indicators consumer confidence

Indicators consumer confidence

Opinions on the economic climate dropped with 3 points and stood at -52. This is far below the long term average (-12) over the past twenty years, but still 15 points away from the lowest value ever observed by Statistic Netherlands. Consumers were more pessimistic about the economic situation in the past twelve months and the economic situation in the twelve months to come.

Consumers were particularly more negative about their own financial situation in the past twelve months. They were also more pessimistic about the near future. On the other hand, consumers were slightly more optimistic about buying expensive items such as furniture, washing machines and cars. On balance, the willingness-to-buy indicator only fell marginally in November to -13.

The decline of the consumer confidence in November is modest, but the number of consumers that expect an increase in unemployment in the twelve months to come has risen sharply for the second month in a row. In September, nearly 10 percent of  respondents expected an increase in unemployment. In October this number had risen to 20 percent and in November to more than 40 percent.

Consumer confidence, seasonally adjusted

Consumer confidence, seasonally adjusted