Wednesday, August 20, 2014 - 13:30
Consumer confidence down on Russia troubles
Dutch consumers are a lot less positive about the future of economic development. According to the Central Bureau for Statistics (CBS), the Consumer Confidence indicator dropped four points to minus six in August. The CBS says that the tense international political situation could be the cause. Over the last 20 years, consumer confidence has been low, at minus eight, meaning that August's calculation is not irregular. In April of 2000, Dutch consumers were the most confident in their economy ever, when the indicator was up at 27. The lowest ever was recorded in February 2013, at minus 44. For the overall economic situation, then, consumers do not see a positive future in the next 12 month. Over the last six months, however, there was positivity. Private financial issues are discouraging consumers to spend. This indicator dropped two points and came out at minus 12. Job security is also an issue, as Dutch people have been very negative about the development of unemployment. In the last year, opinions on this have improved some. in August, 38 percent of respondents counted on an increase in unemployment in the coming 12 months, whereas 30 percent expected a decrease. The CBS has already reported that unemployment went down in June.