Netherlands: Consumer confidence continues to improve, reaches over six-year high
May 21, 2014
The seasonally-adjusted consumer confidence indicator produced by the Central Bureau of Statistics (CBS) increased further from minus 5 points in April to minus 2 points in May. Consumer confidence has been on an upward trend since the middle of last year and May’s print marked the highest reading since October 2007. Nevertheless, the index is still slightly below the 0-point threshold, which indicates that pessimists outnumber optimists.
According to the CBS, both consumers’ more positive assessment of the general economic climate and their increased willingness to buy drove this month’s improvement. Their assessment of the economic climate during the last 12 months improved considerably over April, while their outlook on the economic climate in the coming 12 months remained unchanged. Whereas consumers’ willingness to buy large-ticket items and their opinion regarding their own financial situation in the next 12 months improved over April’s print, their opinions regarding their own financial situations over the past 12 months were virtually unchanged. The continuous improvement in confidence that began last summer paints a positive outlook for private consumption in the near term.