Netherlands: Consumer confidence reaches highest level since April 2011
February 20, 2014
The seasonally-adjusted consumer confidence indicator produced by the Central Bureau of Statistics (CBS) increased from minus 12 points in January to minus 10 points in February. Although February's print marked the highest reading since April 2011, the index is still below the 0-point threshold, which indicates that consumers are pessimistic.
According to the CBS, consumers' willingness to buy durable goods increased in February. This month's improvement was also driven by households' less negative outlook on their future financial situations. Consumers' assessment of the general economic climate was unchanged. The steady improvements in confidence that have been registered since last summer paint a positive picture for private consumption in the near term.
FocusEconomics Consensus Forecast panelists see private consumption expanding 0.9% in 2014, which is down 0.1 percentage points from last month's estimate. In 2015, the panel expects private consumption to rise 0.4%.
Author: Carl Kelly, Economist