Netherlands: Consumer confidence turns pessimistic in September
Consumer sentiment soured in September, with the index dropping to minus 2 from 0 in August; yet, the index remained above the 20-year long-term average of minus 4. However, consumer confidence improved in the third quarter overall and this bodes well for private consumption in the quarter.
The deterioration in September came on the back of worsening views on the economic climate and consumers’ less willingness to buy. The outlook on the economic climate suffered from a significantly more pessimistic assessment of the economic situation in the next 12 months, while consumers also became slightly less upbeat about the economy in the last 12 months. Consumers’ willingness to buy turned negative due to worsening sentiment regarding households’ financial situation in the past 12 months.