By our economics editors
23 Oct 2023 at 09:07
The mood among consumers was somewhat less pessimistic in October than a month earlier. In September they also became slightly less gloomy.
Consumers were more positive about both the economy and their willingness to buy in October, reports statistics agency CBS. But consumer confidence has been continuously negative for more than four years.
The indicator with which CBS measures consumer confidence reached a reading of -38 in October, compared to -39 in September. Consumer confidence is therefore still exceptionally low. It is far below the average of the past twenty years, which is -10.
Confidence reached its highest level ever in January 2000. The indicator then stood at 36. In September 2022, the lowest level ever was reached: -59. Inflation was sky high in that month, mainly driven by rapidly rising energy prices. Statistics Netherlands started taking measurements in 1986.
Consumers were somewhat less pessimistic about the economy in October than in September. Furthermore, willingness to buy was slightly better.
On the other hand, consumers have become more negative about their own financial situation in the past twelve months. They are somewhat more positive about their expectations for the next twelve months.
Image: ANP
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2023-10-23 07:07:22
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