Netherlands: Consumer confidence remains high in February
Nonetheless, the confidence index, published by Statistics Netherlands (CBS), remained well above the crucial zero-point mark separating optimism from pessimism among households in the Netherlands.
February’s print is notably above the long-term average of minus 3 points over the last 20 years and the index has been in positive territory for three years.
The result reflected marginally less optimistic views on the country’s economic climate and consumers’ willingness to buy.
Nearly all sub-indicators of the two components decreased marginally from the prior month. Consumers now hold a negative view on their financial situation in the past 12 months despite the country’s economy growing at its fastest clip in a decade in 2017.
However, while consumers also hold a less favorable view on their financial situation in the next 12 months, they still view the current climate as suitable to make major purchases.
FocusEconomics Consensus Forecast panelists see private consumption expanding 1.9% in 2018, which is up 0.2 percentage points from last month’s estimate. In 2019, the panel expects private consumption to grow 1.7%. ■