Dutch consumers gain confidence

18/11/2010 15:00

The mood among consumers improved for the second month running. In November 2010, the consumer confidence index stood at -7, i.e. 3 points higher than in the previous month. The indicator reached the highest level in nearly three years.

Consumer confidence

Consumer confidence

Consumers were less negative about the economic climate in November. This component of consumer confidence climbed 4 points to reach -6. Opinions on the economic situation in the past 12 months improved most. Consumers were also more positive about the economic situation over the next 12 months. Currently, optimists again outnumber pessimists.

Consumers’ willingness to buy hardly changed. This component indicator of consumer confidence rose 1 point and stood at -8 in November. Consumers’ opinions on their financial situation in the past 12 months were less negative. They also considered it was a more favourable time to buy expensive items, but the mood about their own financial situation in the 12 months to come deteriorated slightly relative to the preceding month.

Statistics Netherlands also investigates on a monthly basis how Dutch consumers intend to cut back on spending, if their net income should be reduced dramatically. One in five plan to curtail spending on holidays and entertainment. Durable articles (such as television sets, computers and cameras) are also mentioned by one in every five consumers. One in ten consider cutting back spending on cars, but only one in sixteen consumers will skimp on food, drinks and tobacco.

For more information on Dutch consumer confidence, also see Statistics Netherlands’ online video on YouTube.

Consumer confidence, seasonally adjusted

Consumer confidence, seasonally adjusted

More figures can be found in dossier Business cycle.