In October the consumer confidence index was –33, two points down on September’s index, typical of this time of year. The seasonally adjusted figures show consumer confidence remained stable. Whether this heralds the end of an uninterrupted string of drops since the beginning of this year is still a moot question. Statistics Netherlands’ consumer confidence survey shows that consumer confidence is at the lowest level since the end of 1983.
Confidence stable at low level
At the beginning of this year decline set in, caused by a more negative opinion on the economic climate and a falling willingness to buy. It is still premature to conclude that October marks the end of the decline.
More willingness to buy expensive items
Willingness to buy, based on consumers’ opinions on their own financial situation and the purchase of expensive articles, remained fairly stable in October compared to September. Consumers are as pessimistic about their own financial situation as they were in September. In both months, 31 percent of the consumers indicated that the financial position of their own household has deteriorated. If seasonal effects are eliminated, consumers, for the first time this year, show a greater readiness to buy expensive articles, such as TV sets and computers.
Opinion on economic climate virtually unchanged
Consumers’ opinions on the Dutch economic situation are virtually equal in October to the previous month. Although consumers have a more negative opinion on the economy in the last twelve months, they expect the situation, after seasonal adjustments, to be slightly more favourable in the coming twelve months.
(source: Statistics Netherlands)
