Netherlands: Consumer confidence falls to record low in August
Consumer confidence came in at minus 54.0 in August, down from July’s minus 51.0. August’s result marked the weakest sentiment on record. As a result, the index highlighted prevalent pessimism among consumers amid sky-rocketing energy prices due to the prolongation of the war in Ukraine and Russia’s weaponization of its gas and oil.
The headline deterioration was driven by greater pessimism regarding the economic climate and households’ financial situation in the past 12 months. Consumers’ views regarding the economy in the year ahead also turned more negative. Willingness to buy also dropped to a record-low in August.