Netherlands: Dutch consumers less optimistic at the outset of 2016

Dutch consumers were less confident in January. The seasonally-adjusted consumer confidence indicator produced by the Central Bureau of Statistics (CBS) moderated from December’s 6 points to 4 points in January. The reading marked a second consecutive decline following November’s over-eight-year high. Nevertheless, the index remained above the 0-point threshold, which indicates that optimists outnumber pessimists. This represents the 11th consecutive month in which consumer sentiment was in optimistic territory.

Consumer confidence fell mainly because consumers were less optimistic about the economic climate. Their willingness to buy remained also moderate, albeit to a lesser extent.

FocusEconomics Consensus Forecast panelists see private consumption expanding 1.6% in 2016, which is down 0.1 percentage points from last month’s estimate. In 2017, the panel expects private consumption to grow 1.7%.