Dutch buyer confidence hits lowest point in four years

Consumer confidence in the Netherlands fell sharply in March, marking the largest drop in almost four years, the CBS reported Monday. The overall consumer confidence index dropped from -24 in February to -30 in March, well below the 20-year average of -11.

The decline reflects growing negativity about the economic climate. The CBS said the sub-index for economic climate fell from -42 in February to -54 in March. Both assessments of the past 12 months and expectations for the next 12 months deteriorated.

Consumer willingness to make purchases also weakened. Consumers reported worse financial conditions over the past year and expected worse conditions over the next year. They also judged the timing for making major purchases less favorable than in February.

CBS has tracked consumer confidence monthly since April 1986 through its consumer survey, which averages five sub-questions. Scores range from 100 (when all responses are positive) to -100 (when all responses are negative). The highest score ever recorded was 36 in January 2000, while the lowest was -59 in September and October 2022.