Consumer confidence at highest level in 9.5 years

Written by Jelmer van der Linden on February 20, 2017

The Dutch economy is doing well, at least ifCBS figures are to be believed. For example, consumer confidence is at its highest level in almost 10 years. At 14 points, the consumer confidence indicator is currently well above the average of the past 20 years.

Netherlands in top six consumer confidence EU

Consumer confidence in the Netherlands has been positive for quite some time, more than 14 years. The Netherlands is therefore structurally among the top countries with the highest consumer confidence. The differences between the consumer confidence (according to the European definition) of the Netherlands and the European Union average aregreatest in times of optimism, where as they become smaller in times of pessimism. This is because Dutch consumers' assessment of the general economic situation as well as unemployment expectations is considerably more positive than the EU average in times of optimism, while savings expectations are significantly higher in the Netherlands in both times of optimism and pessimism.

CBSfurther reported that consumer spending increased by 2.5 percent in December 2016 compared to December 2015. More durable expenditures, including household appliances, home furnishing items and automobiles, were particularly higher.

Conditions consumption more favorable

According to CBS' consumption radar, conditions for Dutch households' consumption in February 2017 are more favorable than in January. Consumption by households is related to consumers' expectations, the labor market situation and the development of assets. Industrial entrepreneurs' assessment of future employment was more positive. Thus, consumers' expectations about future employment growth increased. The year-on-year increase in the price of owner-occupied homes grew slightly from a month earlier. In addition, the increase in the employed labor force was larger than a month earlier and the year-on-year price value of Dutch stocks was also up.

Conclusion

So, positive figures, but have you as a web-shopper or consumer noticed this as well? In any case, let us hope that this upward trend is an omen of better (economic) times!