A river under the bridge in the Netherlands

Netherlands Consumer Confidence April 2020

Netherlands: Consumer sentiment records steepest drop in history in April

Consumer confidence tanked at the start of the second quarter, with the consumer confidence index falling from minus 2 in March to minus 22 in April. This marked the fastest monthly drop on record and was heavily influenced by the global Covid-19 pandemic and subsequent government containment measures. Moreover, the figure came in markedly below the long-term average of minus 5 and marked the lowest point since October 2013.

Consumers’ views on the economic climate deteriorated notably, with expectations for the year ahead falling to the lowest level on record. Furthermore, willingness to buy disappeared in April as it registered an historically unprecedented drop. Consumers turned markedly pessimistic regarding their financial situations in the next 12 months, influenced by the expectation of rising unemployment. Consequently, sentiment regarding the current situation’s suitability for purchasing big-ticket items evaporated.

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