Optimism still prevailing among Dutch consumers

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According to Statistics Netherlands (CBS), the mood among Dutch consumers remains the same in November. The consumer confidence indicator stands at 12, just as it did in October. It is at its highest level after August 2007. Consumers are more positive about the economic climate, while willingness to buy deteriorated slightly.

With a score of + 12, consumer confidence is significantly 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 more positive about economic climate

In November, Dutch consumers are more positive about the economy in general than in October. The component indicator economic climate has risen to + 24 in November, up from + 20 in October. Consumers are more optimistic about the economic situation in the past and next 12 months.

Consumers’ willingness to buy deteriorates in November, compared to the preceding month. This component indicator of consumer confidence currently stands at + 5, versus +7 in October. Consumers are in particular less positive about their future personal financial situation. In addition consumers think it is a slightly less favourable time to buy expensive, durable items.

Consumers expect unemployment to decline

Consumers’ expectations about future unemployment improved considerably and reached the highest point after January 2008. Nearly 39 percent of respondents expect unemployment to decline over the next 12 months, whereas over 25 percent anticipate an increase. The balance of positive and negative answers was +13. Statistics Netherlands also announced yesterday that unemployment declined further in October. Having a paid job is crucial for consumers’ willingness-to-buy.

consumer confidence November

Sources

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