Consumer-oriented sectors much more negative about Dutch economy
Entrepreneurs in the retail, hospitality, and travel sectors are currently much more negative about the economic climate in the Netherlands than a few months ago. More entrepreneurs expect the economy to deteriorate than expect it to improve, though on balance they still expect a higher turnover in the coming months, Statistics Netherlands reported on Monday.
In the travel industry, the proportion of entrepreneurs who expect the economy to deteriorate increased the most - from 20 percent in February to 79 percent in March, on balance. Only 0.2 percent of entrepreneurs in this sector expected economic improvement. More travel entrepreneurs expected a higher turnover in the next three months than expected a decline. Though the balance of 13 percent more optimistic than pessimistic companies is the lowest since March 2014, when only 6 percent of companies in this sector expected higher turnover.
The last time that retail, hospitality, and travel were all three negative about the economic climate was in December 2014. Expectations from entrepreneurs in the hospitality and travel industry are currently the most negative since 2012.
In hospitality, 29 percent more entrepreneurs expect the economy to deteriorate further than expect improvement. In retail it's 11 percent.