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Dutch consumer confidence highest since August 2007

Staff Writer |
Dutch consumer confidence strengthened in October to the strongest level in more than nine years, while spending growth eased in August, figures from the Central Bureau of Statistics showed.

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The seasonally adjusted consumer confidence index rose to 12.0 in October from 8.0 in the previous month. Moreover, the latest reading was the highest since August 2007.

Consumers' judgement about the economy in October was much more positive than in September. The corresponding index climbed to 20.0 from 18.0.

The willingness to buy increases sharply in October, with the index rising to 7.0 from 2.0 in September.

Separately, the statistical office revealed that consumer spending grew at a slower pace of 1.0 percent annually in August, following a 2.1 percent climb in July. The measure has been increasing since October 2014.

In August, consumers spent more on services, which create more than half of the total domestic consumer spending.

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