Netherlands: Consumer confidence stable at over-six-year high in July
July 18, 2014
The seasonally-adjusted consumer confidence indicator produced by the Central Bureau of Statistics (CBS) remained at June’s minus 2 points in July. Consumer confidence has been on an upward trend since the middle of last year and May’s print marked the highest reading since October 2007. Nevertheless, the index is still just below the 0-point threshold, which indicates that pessimists outnumber optimists.
According to the CBS, both consumers’ assessments of the general economic climate and their willingness to buy were virtually unchanged as compared to last month. Consumers remained positive about the general economic climate; a slight improvement in their assessments of the economic climate during the last 12 months compensated for a slight moderation in their outlook on the economic climate in the coming 12 months. Consumers’ willingness to buy large-ticket items and their opinions regarding their own financial situations over the past 12 months were virtually unchanged at June’s pessimistic result. The overall improvement in confidence that began last summer paints a more optimistic picture for private consumption in the near term.