Dutch consumer confidence falls to -37, lowest in over a year

Consumer confidence in the Netherlands dropped sharply in April, continuing a downward trend for the seventh month in a row. According to figures published Tuesday by Statistics Netherlands (CBS), the consumer confidence index fell from -34 in March to -37 in April. That is the lowest level since October 2022, when confidence hit an all-time low of -59.

The decline reflects worsening sentiment in both key components of the index: the economic climate and willingness to make purchases. The negative sentiment reverses the temporary recovery that began after October 2022 and ended in the fall of 2024.

April’s figure of -37 is far below the 20-year average of -10. Consumer confidence is measured by CBS on a monthly basis through the Consumer Survey, which has been conducted since April 1986. The index is calculated as the average of five sub-questions. For each question, the net percentage of positive versus negative responses is measured. A score of 100 would indicate that all respondents are positive, while -100 means all are negative.

Consumer confidence reached its all-time high in January 2000 at +36. The lowest ever level was recorded in September and October 2022, when the index fell to -59. Since then, a modest recovery took place, but this reversed in September 2024. Each subsequent month since then has shown a decline.

Consumers were more negative about the general economic climate in April than in March. The sub-indicator for the economic climate dropped from -57 in March to -61 in April. CBS noted that both outlooks — for the next twelve months and for the past twelve months — worsened.

Willingness to make purchases also declined. The sub-indicator fell to -20 in April from -18 in March. Consumers were more pessimistic about their personal financial situations in both the past and coming twelve months. Meanwhile, opinions about whether it is a good time to make large purchases remained just as unfavorable as they were in March.

The most recent data confirms a clear trend: confidence has been falling steadily since September 2024. In that month, the index stood at -21. It has since dropped each month — to -22 in October, -25 in November, -26 in December, and further to -28 in January 2025. The decline accelerated in February (-32), continued in March (-34), and deepened further in April (-37).