Netherlands: Dutch consumer confidence drops in July
July 20, 2016
Dutch consumer sentiment deteriorated significantly in July. The seasonally-adjusted consumer confidence indicator produced by Statistics Netherlands dropped from June’s plus 5 points to plus 1 point in July. As a result, the index approached the 0-point threshold, above which optimists outnumber pessimists.
Consumer confidence declined mainly because households grew more concerned about the general economic climate. Their concern focused particularly on the economic outlook for the next 12 months, but they were also reasonably negative about the economic situation in the past 12 months. Consumers’ willingness to buy also deteriorated, but only marginally.
Statistics Netherlands suggested that the most relevant economic event in the previous month was Brexit, attributing the sudden fall in consumer confidence largely to the UK vote to exit the EU.