Decline in consumer confidence continues

© Hollandse Hoogte / Flip Franssen
In January, confidence among Dutch consumers has deteriorated for the fourth month in a row, as reported today by Statistics Netherlands (CBS). The consumer confidence indicator stands at -28 this month, down from -25 in December. Both consumers´ sentiment about the general economic situation and willingness to buy have deteriorated.

At -28, the consumer confidence indicator in January is positioned below its 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)
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
2021July-4
2021August-6
2021September-5
2021October-10
2021November-19
2021December-25
2022January-28

Consumers again more pessimistic about the economy

Consumers’ sentiment about the economic climate is more negative than in December. This component indicator stands at -43, down from -38. Consumers are more negative both about the economic situation over the next twelve months and about the economic situation over the past twelve months. 

Willingness to buy further down

Consumers’ willingness to buy stands at -18, down from -17 in December. Consumers are more negative both about their financial situation in the next twelve months and about their financial position in the past twelve months. Furthermore, they find the time for large purchases equally as unfavourable as in December.

More and more consumers classify price increases as sharp

In January, 57 percent of consumers have classified the price increases in the past year as sharp. This is the highest percentage since the beginning of the time series in 2017. The percentage expecting inflation to accelerate in the coming twelve months increased from 33 In December to 37 in January.

Consumers considering price increases as sharp
jaarmaandpercentage (%)
2018February15
2018March16
2018April18
2018May21
2018June25
2018July20
2018August24
2018September23
2018October23
2018November22
2018December23
2019January21
2019February30
2019March 37
2019April37
2019May40
2019June36
2019July40
2019August37
2019September37
2019October32
2019November30
2019December29
2020January32
2020February33
2020March25
2020April18
2020May15
2020June18
2020July21
2020August22
2020September18
2020October18
2020November16
2020December17
2021January16
2021February19
2021March21
2021April19
2021May24
2021June33
2021July40
2021August37
2021September43
2021October48
2021November53
2021December55
2022January57