The mood among Dutch consumers deteriorated further in February. According to Statistics Netherlands (CBS), the consumer confidence indicator fell by 5 points to - 1. Consumers’ opinions about the economic climate and their willingness to buy both deteriorated. For the first time in almost a year consumer confidence dipped below zero.
The consumer confidence indicator fell to -1 in February, but is still above its long-term average over the past two decades (- 8). The indicator reached an all-time high in April 2000 (+ 27) and an all-time low in February 2013 (- 44).
Consumers’ opinions about the economic climate and willingness to buy deteriorated
In February, Dutch consumers are less optimistic about the economy in general than in January. The component indicator economic climate fell from + 11 in January to + 6 in February. Consumers were more pessimistic about the economic situation in the next 12 months but they are also less positive about the economic situation in the past 12 months.
Consumers’ willingness to buy is also falling in February. This component indicator of consumer confidence stands at - 5, versus 0 in January. This is partly due to the fact that consumers are more negative about their financial situation in the next 12 months and partly because they think it is a less favourable time to buy expensive, durable items.
Today, Statistics Netherlands also reports on household consumption in December.