Netherlands consumer confidence moderates in May but remains high
This is the highest reading in over sixteen years—to plus 23 points in May, marking the first decline since July 2016.
The index nevertheless remained comfortably above the 0-point threshold which indicates that optimistic consumers outnumber pessimistic consumers.
Consumer confidence deteriorated mainly on the back of less upbeat sentiment regarding the economic climate and a lower willingness to buy, likely due in part to the uncertainty generated by the current political gridlock.
In terms of the economic climate, consumers grew less positive about both the economic outlook for the next 12 months and the economic situation over the past 12 months.
Regarding their willingness to buy, consumers were less inclined to buy big-ticket items, and they were also less optimistic regarding their personal financial situations.
FocusEconomics Consensus Forecast panelists see private consumption expanding 2.0% in 2017, which is unchanged from last month’s estimate.
In 2018, the panel expects private consumption to grow 1.5%. ■