Netherlands: Consumer confidence drops to five-month low
November 20, 2012
The seasonally adjusted consumer confidence indicator elaborated by the Central Bureau of Statistics (CBS) dropped from minus 32.0 points in October to minus 37.0 points in November. The decline exceeded market expectations of minus 35.0 points and marked a five-month low. With the monthly drop, the index moved further below the 0-point threshold that separates optimistic from pessimistic sentiment. According to the CBS, consumers were more pessimistic about their financial situation in the next 12 months. Accordingly, consumers' willingness to make mayor purchases deteriorated in November. Moreover, the assessment of the economic situation in next 12 months worsened notably, which does not bode well for economic activity.