Netherlands: Consumer confidence remains at over-six-year high in June
June 20, 2014
The seasonally-adjusted consumer confidence indicator produced by the Central Bureau of Statistics (CBS) remained at May’s minus 2 points in June. Consumer confidence has been on an upward trend since the middle of last year and May’s print had marked the highest reading since October 2007. Nevertheless, the index is still slightly below the 0-point threshold, which indicates that pessimists outnumber optimists.
According to the CBS, consumers’ assessments of the general economic climate was unchanged compared to last month, while their willingness to buy deteriorated marginally. Both consumers’ assessments of the economic climate during the last 12 months and their outlook on the economic climate in the coming 12 months remained unchanged. Whereas consumers’ willingness to buy large-ticket items and their opinions regarding their own financial situations over the past 12 months were virtually unchanged, their opinions regarding their own financial situations in the next 12 months deteriorated slightly over May’s print. The continuous improvement in confidence that began last summer paints a positive picture for private consumption in the near term.