Dutch consumers show less pessimism this month, according to Statistics Netherlands (CBS). The confidence indicator rose from minus 46 in May to minus 39 in June. This marks the greatest improvement in more than eleven years, although confidence still sits far below the twenty‑year average of minus 11.
CBS says consumers feel less negative about the economic climate and their willingness to buy. Willingness to buy increased from minus 28 in May to minus 22 in June. This is the largest month‑to‑month rise since the series began, but the figure remains well below the long‑term average of minus 9.
Confidence fell in May after a sharp drop in April, when households worried about high inflation linked to the war in the Middle East.
Consumer confidence reached its highest level in January 2000 at plus 36. It hit a record low of minus 59 in September and October 2022.
Oil prices surged during the conflict, pushing pump prices to record highs. Prices have since fallen after a provisional peace deal between the United States and Iran. Petrol stations now reflect this drop, which may help explain the less negative mood among consumers.
Later today, Eurostat will publish consumer confidence figures for the eurozone for June. Confidence has also fallen sharply due to the Iran war. To curb high inflation, the European Central Bank (ECB) has raised interest rates in the euro area.
@ANP | News Brainport
