Consumer confidence substantially improved

The mood among Dutch consumers was substantially better in October than in September. According to Statistics Netherlands, the consumer confidence indicator rose by 3 points to +8. This is the highest level in more than eight years. Consumer confidence mainly improved because consumers were more positive about the economic climate. Their willingness to buy also improved.

Consumer confidence rose to + 8 in October, i.e. far above its long-term average over the past two decades (- 8). The indicator reached its highest level ever in April 2000 (+27) and its lowest level in February 2013 (- 44).

Opinions about the economy considerably more positive

Confidence in the economic climate in general was considerably greater in October than in September. This component indicator rose from + 14 in September to + 20 in October, due to the improvement in consumer opinions about the economic situation in past 12 months. Their opinion about the economic situation over the next 12 months is less positive though.

Consumer willingness-to-buy improved slightly in October. This component indicator of consumer confidence rose by 2 point to 0. This means that the number of optimists and pessimist are in balance. The improvement is mainly due to the fact that consumers considered October a much better time to buy expensive, durable items. The opinion about their financial situation hardly changed.

Today, Statistics Netherlands also reports on household consumption in August.

Consumer confidence