Outside the dotted line: more favourable than average.
Conditions for consumption less unfavourable
In July, conditions for Dutch household consumption are less unfavourable than in June. New data have become available for all indicators. Five indicators improved, one deteriorated. Household consumption is affected by consumers’ expectations, their personal financial situation and developments on the job market. Although the Radar indicators show a strong correlation with household consumption, improved circumstances are not necessarily translated into increased growth.
Manufacturers’ opinions on future employment were less unfavourable than in the previous month. Consumers’ expectations on their own financial future were also less negative. Also the year-on-year decline of the employed labour force and the year-on-year decrease in stock market prices were smaller than in the previous month. Furthermore, the year-on-year increase of the house prices was slightly more substantial. On the other hand, consumers’ expectations on the future unemployment were more negative.