Consumer confidence further down in May

© Hollandse Hoogte / Luuk van der Lee Fotografie
Due to the COVID-19 crisis, consumer confidence plummeted in April. In May, the consumer confidence indicator is further down and stands at -31, as reported today by Statistics Netherlands (CBS). Opinions on the economic climate over the past twelve months have deteriorated significantly. Consumers’ willingness to buy, on the other hand, has remained the same.

At -31, the consumer confidence indicator in May stands far below its long-term average over the past two decades (-5). The indicator reached an all-time high (36) in January 2000 and an all-time low (-41) in March 2013.

Opinions on the economic climate again more negative

Consumers are again substantially more negative about the economic situation than they were in the previous month. The component indicator Economic climate has deteriorated from -31 in April to -52 in May. This is due to the fact that opinions on the economic climate over the past twelve months have deteriorated significantly. Consumers’ opinions on the economic climate in the next twelve months has hardly changed and remains at a historic low. 

Consumers’ willingness to buy remains invariably low

Consumers’ willingness to buy has not changed in May. This component indicator remains at -17. Opinions of consumers on their financial situation over the past twelve months and in the next twelve months have hardly changed. Consumers find this time more or less equally unfavourable to make large purchases.

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