Retail

Netherlands' consumer confidence grows in March: CBS

24 Mar '23

1 min read

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Insights

Consumer confidence in the Netherlands has grown for the fifth consecutive month in March 2023, reaching minus 39, up from minus 44 in February. Consumers are less pessimistic about the economy and their financial situation, with willingness to buy also improving. However, confidence remains below the long-term average of minus 10 over the past two decades.

Consumer confidence in the Netherlands has grown for the fifth straight month in March 2023, according to data released by the Central Bureau of Statistics (CBS). In March, the country’s consumer confidence stands at minus 39, up from minus 44 in February. However, the consumer confidence in March is positioned well below its long-term average of minus 10 over the past two decades.

The consumer confidence indicator reached an all-time high of 36 in January 2000 while the all-time low of minus 59 was reached in September and October 2022, as per CBS.

Consumers are less gloomy about the economic situation, with the corresponding component indicator rising from minus 54 in February to minus 48 in March. Consumers were less pessimistic both about the economy in the next twelve months and about the economy over the past twelve months.

Consumers’ willingness to buy stands at minus 33 in March, up from minus 37 in February. Consumers are less negative both about their financial situation in the next twelve months and about their financial situation over the past twelve months. Consumers are also less negative about making large purchases in March than they were in February.

Fibre2Fashion News Desk (DP)

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