Supplemental survey: Consumer confidence improves slightly

© Hollandse Hoogte / Marcel van den Bergh
During the ongoing COVID-19 crisis, Statistics Netherlands (CBS) conducts its consumer confidence surveys twice a month instead of once a month until June inclusive. In its regular survey, most of the observations are conducted in the first half of the month. The supplemental survey is conducted in the second half of the month and is intended to provide interim indications of the progression of consumer confidence and its underlying component indicators. This survey indicates a slightly improved consumer confidence over the month of May.

In May, consumer confidence stood at -31. The supplemental survey of the indicator shows a slight improvement to -29. This is due to a less negative willingness to buy. Consumers became more negative about the economic situation.

Consumers’ willingness improves

Consumer willingness to buy has increased from -17 to -11. Consumers are more positive about their financial situation over the past twelve months. Their opinions about their financial situation in the twelve months are less negative and consumers find this time less unfavourable to make large purchases as during the regular survey.

Opinions on the economic climate deteriorating further

Consumers have become more negative about the economic situation than they were during the regular survey in May. The Economic climate component indicator has deteriorated from -52 to -57. Opinions on the economic climate over the past twelve months deteriorated further, but opinions on the economic climate in the next twelve months have improved somewhat.

The supplemental measurements are expressly not intended as a replacement for the regular statistics and are also not part of the regular series. The next publication of consumer confidence survey results will be regular and takes place on 20 May 2020.

Sources