Consumers less pessimistic in December
At -20, the consumer confidence indicator in December 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.
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Economic sentiment less negativeConsumers’ sentiment about the general economic situation has improved in December. This component indicator stands at -40, up from -53. Consumers are mainly less pessimistic about the economic situation in the next twelve months. Opinions on the economic situation over the past twelve months are only slightly less negative than in November.
Willingness to buy improved marginallyConsumer’ willingness to buy stands at -6, up from -7 in November. Consumers are slightly more optimistic about their financial situation for the next twelve months. Furthermore, they find the time for large purchases somewhat less unfavourable. Opinions of consumers about the financial situation over the past twelve months remained the same.
Over 10 percent of the respondents answered on or after Monday 14 December, when the Dutch government announced a full lockdown starting on Tuesday 15 December. Confidence among these respondents was hardly different from confidence among other respondents.
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.
- Dossier - Business Cycle