Dutch consumer confidence holds steady in August 2024

In August 2024, consumer confidence in the Netherlands remained unchanged from the previous month, with the confidence indicator holding steady at minus 24, according to data released by Statistics Netherlands (CBS). Despite the lack of change in the overall sentiment, Dutch consumers expressed increased pessimism about the economy, though their willingness to buy showed a slight improvement.

The consumer confidence indicator for August, at minus 24, remains significantly below the long-term average of minus 10, recorded over the past twenty years. The indicator has fluctuated widely in the past, reaching an all-time high of 36 in January 2000 and hitting a record low of minus 59 in September and October 2022.

In August, consumers became more pessimistic about the economy than they were in July. The economic sentiment component of the indicator declined to minus 42, down from minus 39 the previous month. Both consumers' assessment of the economic situation over the past twelve months and their outlook for the next twelve months have worsened, as per CBS.

On the other hand, the willingness to buy among consumers showed a slight improvement, with the indicator rising to minus 13 in August from minus 14 in July. Consumers' views on their personal financial situation over the past twelve months were slightly less negative, and their outlook for the next twelve months showed a marginal increase in optimism. Additionally, consumers were somewhat less negative about making large purchases in August compared to the previous month.

Fibre2Fashion News Desk (DP)