Netherlands: Business confidence falls to lowest level since 2009
October 25, 2012
Business sentiment fell in October to lowest level since December 2009. The seasonally adjusted producer confidence indicator elaborated by the Central Bureau of Statistics (CBS) dropped to minus 7.7 points from minus 6.7 points in September, contrasting market expectations that had anticipated the index rising to minus 6.4 points. With the monthly drop, the index moved further below the 0-point threshold that separates optimistic from pessimistic sentiment. According to the CBS, businesses were much more pessimistic about their output prospects in the next three months as well as regarding their order positions. In addition, manufacturers were slightly more pessimistic about employment in the near term. On the other hand, opinions regarding stocks of finished products remain virtually unchanged over the previous month.