Dutch Consumer Confidence Weakest In 8 Months

By | January 22, 2020
Dutch Consumer Confidence Weakest In 8 Months

Dutch consumer confidence fell to the lowest level in eight months in January, data from the Central Bureau of Statistics showed on Wednesday.

The consumer confidence index fell to minus 3 in January from minus 2 in December. A similar lower reading was seen in May last year.

Nonetheless, the consumer confidence index has remained above the 20-year average of minus 4 points.

The economic climate sub-index fell to minus 7 in January from minus 8 in the previous month and the indicator for willingness to buy was zero.

Further, households’ assessment remained unchanged regarding their financial situation for the next 12 months. However, consumers felt that it was somewhat less favorable to make large purchases.

Another report from the statistical office showed that household spending growth slowed in November despite higher purchases of home furnishing, household appliances, and cars.

Consumer spending grew 1.3 percent annually in November, slower than 1.7 percent increase in October.