Consumer confidence up in June

© Hollandse Hoogte / Hans van Rhoon
In June, confidence among Dutch consumers has improved, as reported today by Statistics Netherlands (CBS). The consumer confidence indicator stands at -3, up from -9 in May. Both consumers’ sentiment about the general economic situation and consumers’ willingness to buy have improved.

At -3, the consumer confidence indicator in June stands above the long-term average over the past two decades (-8). 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)
2017July25
2017August26
2017September23
2017October23
2017November22
2017December25
2018January24
2018February23
2018March24
2018April25
2018May23
2018June23
2018July23
2018August21
2018September18
2018October15
2018November13
2018December9
2019January1
2019February-2
2019March -3
2019April-3
2019May-3
2019June-1
2019July1
2019August-1
2019September-2
2019October-1
2019November-2
2019December-2
2020January-2
2020February-2
2020March-3
2020April-23
2020May-31
2020June-27
2020July-26
2020August-29
2020September-28
2020October-30
2020November-26
2020December-20
2021January-19
2021February-19
2021March-18
2021April-14
2021May-9
2021June-3

Consumers less negative about the economy

Consumers’ sentiment about the general economic situation is less negative compared to May. This component indicator stands at -12, up from -24. Consumers are more positive about the economic situation in the next twelve months. They are also less pessimistic about the economic situation over the past twelve months.

Willingness to buy at higher level than before the crisis

Consumers’ willingness to buy stands at 3, up from 1 in May, reaching a higher level than before the coronavirus crisis for the first time. Consumers’ opinions about their financial situation for the next twelve months and over the past twelve months have improved. Furthermore, they find the time for large purchases less unfavourable compared to May.

Consumers positive about future unemployment

The question whether or not someone has a job plays an important role in their willingness to buy. In June, consumers’ unemployment expectations are positive for the first time since November 2019. Approximately 33 percent of the respondents expect unemployment to rise in the twelve months to come, whereas 46 percent anticipate a drop. The balance of positive and negative answers stands at 13, higher than in January 2020 (pre-COVID-19). The low during the current coronavirus crisis was -87 in October 2020.

Expectations on unemployment
YearMonthbalance (balance % positive and % negative answers)
2017July36
2017August45
2017September41
2017October49
2017November45
2017December50
2018January53
2018February51
2018March52
2018April52
2018May45
2018June49
2018July46
2018August46
2018September46
2018October36
2018November38
2018December28
2019January25
2019February25
2019March25
2019April21
2019May28
2019June29
2019July23
2019August11
2019September12
2019October5
2019November-11
2019December-13
2020January-6
2020February0
2020March-14
2020April-78
2020May-81
2020June-76
2020July-79
2020August-83
2020September-77
2020October-87
2020November-79
2020December-69
2021January-61
2021February-59
2021March-51
2021April-38
2021May-14
2021June13