Netherlands: Consumer confidence picks up slightly in April
April 19, 2013
The seasonally adjusted consumer confidence indicator elaborated by the Central Bureau of Statistics (CBS) rose from minus 41.0 points in March to minus 35.0 points in April. Despite the monthly increase, the index remains well below the 0-point threshold that separates optimistic from pessimistic sentiment.
According to the CBS, the assessment of the economic situation in next 12 months improved over the previous month, despite remaining in pessimistic territory. In addition, consumers were slightly less pessimistic about their financial situation in the next 12 months. Accordingly, consumers' willingness to make major purchases improved somewhat in April. That said, notably pessimistic consumer confidence levels do not bode well for private consumption in the near term.
For 2013 FocusEconomics Consensus Forecast panellists see private consumption expanding 1.6 %, which is down 0.1 percentage points from last month's estimate. In 2014, the panel expects private consumption to expand 0.1%.