Netherlands: Consumer confidence falls in October
Consumer confidence came in at minus 30.0 in October, down from September’s minus 28.0. January’s result marked the weakest sentiment reading since May. As a result, the index remained entrenched below the 0-threshold, separating pessimism from optimism among consumers.
The print was driven by a worsening view on the economic climate, likely due to growing concerns regarding the evolution of the pandemic in the country; the government announced new restrictive measures in mid-October to curb the spread of the virus. Moreover, views on the labor market deteriorated, with an expected rise in the unemployment rate in the next 12 months.