Consumer confidence remains the same in March

© Nikki van Toorn (CBS)
According to Statistics Netherlands (CBS), the mood among Dutch consumers has not changed. In March, the consumer confidence indicator remains at -2. Opinions on the economic climate have deteriorated, while consumers’ willingness to buy has improved slightly.

Approximately 85 percent of the respondents participating in the consumer confidence survey had already responded to the survey before the far-reaching measures against the spread of coronavirus came into effect on Thursday 12 March. The effect of these measures is probably not yet reflected in the consumer confidence measurements for March. In the few survey days since 12 March, however, a downward trend can be seen in the reported confidence. Opinions on the economic climate in the next 12 months do deteriorate significantly in March, but this is compensated by an improvement in opinions on the economic situation over the past 12 months and a slight increase in consumers’ willingness to buy.

At -2, the consumer confidence indicator in March stands above its long-term average over the past two decades (-5). The indicator reached an all-time high in January 2000 (36) and an all-time low in March 2013 (-41).

Consumer confidence, seasonally adjusted
YearMonthbalance (average of the component questions)
2016April6
2016May7
2016June11
2016July9
2016August9
2016September12
2016October17
2016November20
2016December21
2017January21
2017February22
2017March24
2017April26
2017May23
2017June23
2017July25
2017August26
2017September23
2017October23
2017November22
2017December25
2018January24
2018February23
2018March24
2018April25
2018May23
2018June23
2018July23
2018August21
2018September18
2018October15
2018November13
2018December9
2019January0
2019February-2
2019March -4
2019April-3
2019May-3
2019June0
2019July2
2019August0
2019September-2
2019October-1
2019November-2
2019December-2
2020January-3
2020February-2
2020March-2

More negative about economic climate in coming twelve months

Consumers are more negative about the economic situation than in the previous month. The component indicator Economic climate has deteriorated: from -5 in February to -8 in March. Consumers are considerably more negative about the economic climate in the coming twelve months, but more positive about the economic climate in the past twelve months.

Economic situation 12 months to come
jaarmaandsaldo (balance % positive en % negative answers)
2016april9
2016mei12
2016juni23
2016juli18
2016augustus19
2016september25
2016oktober32
2016november38
2016december38
2017januari40
2017februari41
2017maart45
2017april49
2017mei43
2017juni40
2017juli41
2017augustus43
2017september38
2017oktober40
2017november38
2017december40
2018januari41
2018februari40
2018maart41
2018april41
2018mei35
2018juni34
2018juli34
2018augustus30
2018september26
2018oktober19
2018november17
2018december7
2019januari-9
2019februari-13
2019maart-15
2019april-13
2019mei-12
2019juni-7
2019juli-2
2019augustus-10
2019september-14
2019oktober-14
2019november-16
2019december-18
2020januari-17
2020februari-15
2020maart-25

Consumers’ willingness to buy improves marginally

Consumers’ willingness to buy has hardly changed. This component indicator stands at 2, up from 1 in February. Opinions on both their financial situation over the past twelve months and their financial situation in the coming twelve months have improved. Consumers find this a slightly less favourable time to make large purchases.

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