Netherlands: Consumer sentiment deteriorates further in February
The consumer confidence index dropped to minus 30.0 in February from -28.0 in January. As such, the index moved further below the neutral zero-threshold that separates pessimism from optimism among Dutch consumers.
The deterioration came on the back of worsening sentiment regarding the economic climate and willingness to buy. Views on the economy turned more pessimistic on the back of more downbeat views on the economy is the past 12 months. Meanwhile, willingness to buy dropped to an over eight-year low as consumers were more pessimistic regarding their financial situation in the past and the next 12 months.
The said, household consumption growth should accelerate this year, supported by a tight labor market and the fading impact of the pandemic and supply bottlenecks.