Dutch consumer confidence edges up in Feb, yet below long-term average

22 Feb '24

2 min read

Pic: Adobe Stock

Insights

Dutch consumer confidence rose slightly in February to minus 27 from January's minus 28, as per CBS.
Despite a less optimistic view of the economy, with economic sentiment dropping to minus 41, consumers showed increased willingness to buy, improving to minus 17.
The confidence level is still well below the two-decade average of minus 10.

Dutch consumer sentiment has shown slight improvement this month, according to Statistics Netherlands (CBS). The consumer confidence index for February registers at minus 27, marking a minor increase from January's minus 28. This improvement is underpinned by a rise in consumers' willingness to buy, despite a somewhat gloomier view on the economic climate.

The current consumer confidence level remains significantly lower than its two-decade average of minus 10. Historical data reveals that the index peaked at 36 in January 2000 and plummeted to its lowest, minus 59, in September and October of 2022, as per CBS.

February's analysis indicates a decline in optimism regarding the economy, with this segment of the indicator dropping to minus 41 from January's minus 39. While there is a positive shift in how consumers view the economic situation over the past twelve months, their outlook for the coming year has dimmed.

On a positive note, the willingness to buy metric has seen an uptick, moving to minus 17 in February from January's minus 20. This suggests that, although consumers feel slightly better about their financial situation over the last year, their expectations for the upcoming year remain steady. Additionally, there's a less negative stance towards making significant purchases now compared to the previous month.

Fibre2Fashion News Desk (DP)

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