Thursday, November 20, 2014 - 12:21
Drop in Consumer Confidence, spent less
According to Statistics Netherlands, consumers spent 0.6 percent less on goods and services in September than in the same month last year. Consumer confidence deteriorated in November, especially regarding the economy. In September consumers spent 4.1 percent less on durable goods, like clothes and shoes, than in September 2013. They did however spend a bit more on furnishings and electronics as well as food, beverages and tobacco (1.8 percent more). Spending on other goods, including gas and fuel, was 5.1 percent lower than in September 2013. The conditions for consumption by Dutch households deteriorated in November. This is mainly due to manufacturing companies being more negative about future employment in their industries and consumers being pessimistic about future unemployment. Consumer confidence decreased with 5 points in November and came out on -8. Consumers are especially more negative about the economy. A consumer confidence of -8 is on average for November over the last 20 years.