Consumers less pessimistic in November

© Hollandse Hoogte / Flip Franssen
In November, confidence among Dutch consumers has improved, as reported today by Statistics Netherlands (CBS). The consumer confidence indicator stands at -26, up from -30 in October. Consumers are less pessimistic about the economic situation and their willingness to buy was also less negative.

 At -26 the consumer confidence indicator in November stands far below its long-term average over the past two decades (-7). The indicator reached an all-time high (36) in January 2000 and an all-time low (-41) in March 2013.

Consumer confidence, seasonally adjusted
YearMonthbalance (average of the component questions)
December21
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
2020April-22
2020May-31
2020June-27
2020July-26
2020August-29
2020September-28
2020October-30
2020November-26

Economic sentiment less negative

Consumers’ sentiment about the general economic situation has improved in November. This component indicator stands at -53, up from -61. Consumers are mainly less pessimistic about the economic situation in the next twelve months. Opinions on the economic situation over the past twelve months were also less negative.

Willingness to buy improved

Consumer’ willingness to buy stands at -7, up from -9 in October. Consumers are more optimistic about their financial situation for the next twelve months. Furthermore, they find the time for large purchases less unfavourable. Opinions of consumers about the financial situation over the past twelve months remained the same. 

 

Coronavirus has had a significant impact on consumer confidence. In order to arrive at proper series estimates in terms of level and seasonal influences, CBS has made some adjustments to its time series model. This could have resulted in slightly reduced accuracy of the data.

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