Netherlands Consumer Confidence October 2020

Netherlands

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.

FocusEconomics Consensus Forecast panelists see private consumption contracting 2.2% in 2020. In 2021, the panel expects private consumption to grow 2.6%.


Author:, Economist

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Netherlands Consumer Confidence October 20 20

Note: Value of consumer confidence indicator index. The 0-point threshold separates optimistic from pessimistic sentiment.
Source: Statistics Netherlands (CBS)


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