Netherlands: Business confidence plummets in May
May 24, 2012
Business sentiment continues to deteriorate. In May, the seasonally adjusted producer confidence indicator elaborated by the Central Bureau of Statistics (CBS) fell to minus 5.0 points, down from minus 3.3 points in April. At the current level, the reading remains below the 0-point threshold that separates optimist from pessimist sentiment and represents the lowest level since January 2010. According to the CBS, May's decline in business sentiment was broad based, as most sub-categories deteriorated over the previous month. In particular, manufacturers' opinions on their order positions deteriorated notably, falling to the lowest level in almost two years.