Netherlands: Consumer confidence edges down to four-month low in July
July 18, 2013
The seasonally-adjusted consumer confidence indicator elaborated by the Central Bureau of Statistics (CBS) dropped from minus 36 points in June to minus 38 points in July, reaching the lowest level in four months. Thus, the index fell further below the 0-point threshold that separates optimistic and pessimistic sentiment.
According to the CBS, the assessment of the economic situation in next 12 months greatly worsened compared to the previous month. Consumers were more pessimistic about their financial situation in the next 12 months, although this was offset by a more optimistic view of their own financial situation in the past 12 months. Consumers' willingness to make major purchases remained unchanged in July. That said, the overall deterioration in consumer confidence levels does not bode well for private consumption in the near term.
FocusEconomics Consensus Forecast panellists see private consumption falling 1.6% in 2013, which is down 0.1 percentage points from last month's estimate. In 2014, the panel expects private consumption to contract 0.1%.