Netherlands: Consumer confidence falls in October
October 22, 2020
Consumer confidence came in at minus 30.0 in October, down from September's minus 28.0. January's result marked the weakest sentiment reading since May. As a result, the index remained entrenched below the 0-threshold, separating pessimism from optimism among consumers.
The print was driven by a worsening view on the economic climate, likely due to growing concerns regarding the evolution of the pandemic in the country; the government announced new restrictive measures in mid-October to curb the spread of the virus. Moreover, views on the labor market deteriorated, with an expected rise in the unemployment rate in the next 12 months.
Author: Jan Lammersen, Economist