Supplemental survey: Decline in consumer confidence continues

© Hollandse Hoogte / Flip Franssen
In its regular consumer confidence survey conducted in April 2020, Statistics Netherlands (CBS) measured the largest decline in the history of surveytaking. Most of the observations in regular surveys are conducted in the first half of the month. Given the steep decline in April, CBS has performed a supplemental survey over the second half of the month. This survey indicates sustained decline in consumer confidence over the month of April.

In April, consumer confidence stood at -22. The supplemental survey of the indicator shows a further decline of the indicator to -27. This is mainly due to a further deteriorated opinion on the economic climate. Willingness to buy remains virtually the same.

Opinions on the economic climate deteriorating further

Consumers have become more negative about the economic situation than they were during the regular survey in April. The Economic climate component indicator has deteriorated from -31 to -44. Opinions on the economic climate over the past twelve months as well as the next twelve months have deteriorated further.

Consumers’ willingness to buy hardly changing

Consumer willingness to buy has increased slightly from -17 to -15. Consumers are more positive about their financial situation over the past twelve months. Their opinions about their financial situation in the twelve months ahead has not changed. Furthermore, consumers find this time to be almost as unfavourable to make large purchases as during the regular survey.

The supplemental survey is intended to provide an interim indication of the progression of consumer confidence and its underlying component indicators. The supplemental measurements are expressly not intended as a replacement for the regular statistics and are also not part of the regular series. The next publication of consumer confidence survey results will be regular and takes place on 20 May 2020.

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