Netherlands: Consumer confidence drops again in October but remains elevated
October 19, 2018
At the start of the final quarter of the year, consumer confidence moderated on the back of a broad-based deterioration in underlying sentiment indicators. The headline figure dropped from 19 in September to 15 in October. However, the reading remained markedly above the long-term average of minus 3 over the last 20 years and easily above the crucial zero-point mark that separates optimism from pessimism among consumers. The indicator has remained in optimistic territory since March 2015.
The decline came on the back of consumers’ less favorable views of the economic situation in the last 12 months and for the year ahead. Similarly, consumers’ willingness to buy dropped due to a less rosy view of their own financial situation in the last 12 months and for the year ahead.
Netherlands Private Consumption Forecast
FocusEconomics Consensus Forecast panelists see private consumption expanding 2.8% in 2018, which is up 0.2 percentage points from last month’s estimate. In 2019, the panel expects private consumption to grow 2.0%, unchanged from last month.
Author: Jan Lammersen, Economist