Dutch consumer confidence shows improvement in November 2023

Despite this improvement, the current consumer confidence level remains significantly below the long-term average of minus 10 observed over the past two decades. The index had reached its peak at 36 in January 2000 and plummeted to an all-time low of minus 59 in September and October 2022.

A key driver of this change in sentiment is the less pessimistic view of the economy. The specific indicator reflecting opinions about the economy has increased to minus 47 in November, up from minus 56 in October. This improvement encompasses consumers' perspectives on both the past and the upcoming twelve months, with both showing less negativity, as per CBS.

Another contributing factor to the rise in consumer confidence is the increased willingness to buy. This aspect of the index has improved from minus 27 in October to minus 24 in November. Consumers reported more positive views on their financial situation over the past year and expectations for the coming year. Additionally, there is a noted decrease in negativity towards making large purchases in November compared to the previous month.

ALCHEMPro News Desk (DP)