Netherlands: Consumer confidence falls in August
August 20, 2014
The seasonally-adjusted consumer confidence indicator produced by the Central Bureau of Statistics (CBS) fell from July’s minus 2 points to minus 6 points in August. This is the first drop in consumer confidence since the middle of last year and August’s print marked the lowest reading in five months. As a result, the index remains below the 0-point threshold, which indicates that pessimists outnumber optimists.
According to the CBS, both consumers’ assessments of the general economic climate and, to a lesser extent, their willingness to buy deteriorated over the last month. Consumers’ outlook on the economic climate in the coming 12 months deteriorated markedly while their assessments of the economic climate during the last 12 months was unchanged. Consumers’ opinions regarding their own personal financial situation in the next 12 months deteriorated and consumers broadly were as pessimistic as in July regarding their own financial situation over the past 12 months and the time to buy large-ticket items.