Dutch consumer confidence weakens as household finances deteriorate
Dutch consumer confidence slipped from minus 33 to minus 34 in October. Households became more negative about their finances and the recent economic situation, while expectations for the economy were unchanged. Willingness to buy weakened even though consumers judged the timing of major purchases slightly more favourably. Overall confidence stayed below its long-term average.
Economics & Markets··Night
October confidence slips below September's reading
Consumer confidence in the Netherlands declined from minus 33 in September to minus 34 in October. The seasonally adjusted survey indicator brings together households' assessments of the economy in general, their own financial situation and whether they consider the present a suitable time to make major purchases. Its components include both assessments of the past and expectations for the year ahead.[1], [2]
The Dutch statistics agency CBS, Statistics Netherlands, released the results on October 22. Overall confidence remained below its twenty-year average of minus 12. The historical high was plus 36 in January 2000; the low was minus 59, reached in both September and October 2022.[1]
Views of the recent economy become more negative
The economic-climate component moved from minus 58 to minus 59. Respondents' assessment of the economy over the previous twelve months fell from minus 65 to minus 67. Expectations for the next twelve months remained unchanged at minus 50. Those retrospective and forward-looking questions together form the economic-climate component.[1]
Overall confidence had weakened from minus 23 in January to minus 24 in February and minus 30 in March. It reached minus 44 in April and minus 46 in May, then improved to minus 39 in June, minus 35 in July and minus 34 in August before September's minus 33.[1]
Household finances weaken while purchase timing improves slightly
Willingness to buy fell from minus 17 to minus 18. Households' assessment of their finances over the past twelve months declined from minus 16 to minus 19, while expectations for the coming twelve months moved from zero to minus 2. Both financial questions therefore recorded a deterioration.[1]
The major-purchase timing indicator improved from minus 35 to minus 34, leaving one of the three willingness-to-buy questions stronger. The survey indicators express the balance between positive and negative responses. They range from minus 100 when every answer is negative to plus 100 when all are positive.[1]
