Netherlands' consumer confidence declines further in June 2023: CBS

22 Jun '23

2 min read

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Insights

Netherlands' consumer confidence drops for the second month, standing at minus 39 in June compared to minus 38 in May, according to CBS.
The current consumer confidence indicator is significantly below its long-term average of minus 10.
Dutch consumers showed increased pessimism about the economy and less willingness to make large purchases.

Consumer confidence in the Netherlands has taken a hit for the second month in a row, according to recent data from Statistics Netherlands (CBS). With consumers showing a more negative sentiment in June compared to May, the overall confidence appears to be in decline. In June 2023, the consumer confidence indicator stands at minus 39, a slight dip from minus 38 in the previous month.

Particularly, consumers' willingness to buy has turned more negative, indicating a shift in consumer behaviour and spending habits.

The current consumer confidence indicator is significantly below its long-term average of minus 10 over the past two decades. The indicator reached its highest point at 36 in January 2000, while an all-time low of minus 59 was witnessed in September and October 2022, as per CBS.

Furthermore, consumers' outlook on the economy has also tilted towards the negative in June. The component indicator for this sentiment has dropped to minus 54 from minus 53 in May. The data suggests that consumers are growing more pessimistic about the economic landscape in the coming year. However, their views on the economy's performance over the past year have turned slightly less negative.

Consumers' willingness to buy dropped to minus 29 in June from minus 28 in May. This decrease in the willingness to spend is reflected in their more negative views about both their financial situation in the next twelve months and their financial situation over the past twelve months. Additionally, consumers expressed a higher level of negativity about making large purchases in June than they did in May.

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