Consumer confidence picked up again this month despite high inflation and a bleak outlook for purchasing power. The Central Bureau of Statistics (CBS) nevertheless notes that compared to a month ago, people are less pessimistic about the economy as a whole.
The statistics office also notes a small improvement in the willingness to buy. The indicator used by Statistics Netherlands to measure consumer confidence reached minus 44 in February, where it was minus 49 a month earlier. This is the fourth month in a row that there has been a slight improvement. However, consumer confidence is still exceptionally low and well below the average of the past twenty years, which stands at minus 10.
Confidence reached an all-time high in January 2000. Then the indicator was at plus 36. In September and October 2022, the lowest level ever was reached at minus 59. Statistics Netherlands started measuring in 1986.
What do purchasing power, inflation and average income mean again? Read it in our economics glossary.
In the latest survey, consumers were particularly less pessimistic about the economy in the coming twelve months. Opinions on the economy in the past twelve months were also slightly less negative. The same applied to the assessment of one’s own financial situation. Consumers found the time to make large purchases such as a car, furniture or household appliances less unfavorable in February than in January.
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