The mood among Dutch consumers has improved substantially in June compared to May. According to Statistics Netherlands, the consumer confidence indicator rose by 4 points to + 6. This is the highest level in almost eight years. The increase in consumer confidence is mainly due the fact that consumers are more positive about the economic climate.
Consumer confidence rose to + 6 in June, i.e. far above its long-term average over the past two decades (- 8). Consumer confidence reached its highest level ever in April 2000 (+ 27) and its lowest level in February 2013 (- 44).
More optimism about the economy, consumers’ willingness-to-buy less negative
Confidence in the economic climate in general improved considerably in June relative to May. This component indicator rose from + 13 in May to + 21 in June. Consumers’ opinions about economic developments in the past and the next 12 months improved.
Consumers’ willingness-to-buy was less negative in June than in May. This component indicator of consumer confidence climbed 2 points to - 3. Consumers were less negative about their future financial situation. They also think it is a favourable time to buy expensive, durable items, like washing machines, TV sets and furniture.
Consumers expect unemployment to decline
Having a paid job is crucial for consumers’ willingness-to-buy. Consumers’ expectations about future unemployment improved considerably and in June they are positive for the first time in more than four years. Nearly 40 percent of respondents expect unemployment to decline over the next 12 months, whereas more than 29 percent anticipate an increase. The balance of positive and negative answers was +11. Statistics Netherlands also announced today that unemployment has fallen by an average of 5 thousand a month during the past three months.
More figures can be found in dossier Business cycle.
For more information on economic indicators, see the Economic Monitor.