Netherlands: Consumer confidence reaches highest level since July 2011
December 19, 2013
The seasonally-adjusted consumer confidence indicator produced by the Central Bureau of Statistics (CBS) increased from minus 18 points in November to minus 16 points in December. Although this is the highest reading since July 2011, the index remains below the 0-point threshold, which indicates that consumers are pessimistic. According to the CBS, the improvement in the consumer confidence index was driven by less negative consumer opinions regarding the economic climate. Households were also less negative about their future financial situations. However, consumers' willingness to buy deteriorated slightly. Overall, the general improvement in confidence indicates a less pessimistic outlook for private consumption in the near term. FocusEconomics Consensus Forecast panelists see private consumption falling 1.9% in 2013, which is down 0.4 percentage points from last month's estimate. In 2014, the panel expects private consumption to contract 0.6%, which is down 0.2 percentage points from last month's projection.
Author: Carl Kelly, Economist