Fall in willingness to buy less drastic: Willingness to buy, the second component of consumer confidence, has also deteriorated, though less drastically than opinions on the economic climate. The net percentage of optimists is 3, down from 9 in August.
The willingness to buy indicator consists of questions on the financial situation of the own household and on whether respondents think it is a good time to purchase expensive consumer durables. Consumers are a lot more negative about their own financial situation in the last twelve months.
The opinions on the financial situation in the coming twelve months have also deteriorated. Consumers are, however, only a fraction less positive about whether it is a good time to purchase expensive goods.
The Consumer Confidence Survey was conducted in the first ten working days in September. Just before this period there were a several reports on the turmoil on the international financial markets as a result of the US mortgage crisis, decreasing purchasing power next year in the Netherlands and turbulence on the stock exchange.
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