Consumer confidence down

Consumers are less positive about the economy of the Netherlands in August than they were in July. After correction for seasonal effects, the confidence index fell from -23 to -28.  According to Statistics Netherlands’ consumer confidence survey, the decrease was caused by more negative opinions on the economic climate and a deterioration in willingness to buy. Consumer confidence is low: for four years now there have been more pessimists than optimists.

More negative opinions on economic climate

After correction for seasonal effects, consumers’ opinions on the economic climate are more negative in August than in July. Consumers were especially pessimistic about the economic situation in the coming twelve months. Opinions on the economic climate in the last twelve months were slightly more negative than last month.

Consumers less willing to spend

Consumers were also less willing to spend their money, after adjustment for seasonal effects. The willingness to buy component is based on consumers’ opinions on the financial situation of their own household and on answers to the question of whether it is a good time to buy expensive items. In August their opinions on their own financial situation in the coming twelve months are substantially more pessimistic. And their feelings about their situation in the last twelve months were also more negative. Their opinions on whether it was a good time to spend money on expensive durable goods remained unchanged from last month.

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