Dutch consumer confidence continues to fall in March

The sentiment among consumers in the Netherlands in March has deteriorated further, according to Statistics Netherlands (CBS). Consumer confidence stood at -30 in March, down from -24 in February. That is the biggest drop in nearly four years. Opinions regarding the economic climate have deteriorated, in particular.

With a headline figure of -30, the consumer confidence indicator for March is positioned well below its long-term average for the previous twenty years (-11). The indicator reached its all-time high (36) in January 2000, while the all-time low (-59) was in September and October 2022. Statistics Netherlands has monitored consumer confidence every month since April 1986, based on its consumer survey. Consumer confidence is assessed using five questions, where the balance of positive and negative responses is taken from each question. If all consumers are positive, the balance is 100. If all consumers are negative, the balance is -100.

Consumers more pessimistic about the economy

Consumers were more pessimistic about the economy in March than they were in February. This component of the indicator fell from -42 to -54. In particular, consumers were more negative about the economic outlook for the next twelve months, but the assessment of the economic situation over the past twelve months has also become more negative.

Willingness to buy deteriorates

In March, willingness to buy was -15, down from -11 in February. Consumers were both more negative about their financial situation for the next twelve months and their personal financial outlook over the previous twelve months. Consumers were also more negative about making large purchases in March than they were in February.