Consumer confidence at highest level for almost seven years

Dutch consumers are in a buoyant mood. In June consumer confidence was 5 points higher than in the previous month. The index reached its highest level for six and a half years.

Consumers are especially optimistic about the economic situation in the last twelve months. They have not been this positive about the economy for the last seven years. Consumers also expect the economy to do well in the coming twelve months.

Consumers’ willingness to buy also increased in June. This sub-index is rising slowly but steadily, although it still has far to go to achieve the level it had seven years ago. This month’s increased willingness to buy is primarily caused by an increase in the number of consumers who think it is a favourable time to buy expensive items, like a car or furniture. Opinions on their own financial situation last year and in the year to come have also improved.

Consumer confidence reached 18 in June. This means that optimists outnumber pessimists by 18 percent, which is considerable. The highest level ever was reached in 2000, when consumer confidence stood at 27. On average, pessimists have marginally outnumbered optimists in the past two decades. The long-term average stands at -3.

Consumer confidence, seasonally adjusted