Consumer confidence in the Netherlands November 2022

Consumer confidence came in at -57.0 in November, a slight improvement from October’s low of -59. As a result, the index remained below the zero threshold, indicating persistent pessimism among consumers.

The reading reflected a slight improvement in consumer ratings regarding the economic climate in the next 12 months. Meanwhile, their assessment of the economic situation over the past 12 months has not changed widely. There was also an improvement in consumer buying intentions, which rose from their lows in October. In particular, consumers are becoming less pessimistic about their financial situation over the next 12 months. However, the assessment of their financial situation over the past 12 months and their intention to make large purchases remained unchanged in the negative zone.

Going forward, consumer confidence is likely to continue to improve thanks to generous fiscal support, including the government offering a monthly energy bill rebate of €190 from November and a cap on energy prices from January 2023. However, rising inflation and interest rates However, sentiment remains weak, which will affect private consumption next year.

FocusEconomics Consensus forecast committee members see private consumption contracting 0.3% in 2023, which is a 0.1 percentage point increase from last month’s forecast. In 2024, the committee expects private consumption to increase by 1.6%.

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