Consumer confidence declining again

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In March, confidence among Dutch consumers has deteriorated, as reported today by Statistics Netherlands (CBS). The consumer confidence indicator stands at -39 this month, down from -30 in February. This is almost the lowest level ever recorded. Confidence was only lower in February and March 2013. In March 2022, consumers are mainly gloomier about the next twelve months. In consumer confidence for March, the war in Ukraine plays a role for the first time.

At -39, the consumer confidence indicator in March is positioned well below its long-term average over the past two decades (-8). The indicator reached an all-time high (36) in February 2000 and an all-time low (-41) in March 2013.

Consumers again more pessimistic about the economy

Consumers’ sentiment about the economic climate is more negative than in February. This component indicator stands at -58, down from -46. Consumers are mainly more negative about the economic situation over the next twelve months. About the economic situation in the past twelve months, they are just as pessimistic as last month.

Willingness to buy at lowest level since October 2013

Consumers’ willingness to buy stands at -26, down from -20 in February. This is the lowest level in 8.5 years. Consumers are mainly more negative about their financial situation in the next twelve months. About their financial position over the past twelve months, they are slightly more negative. Furthermore, they find the time for large purchases less favourable than in February.

Sources

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