Consumer confidence has dropped sharply in the Netherlands over the past year, as high-earners in particular say they have doubts about their own and the country’s economic prospects, the nationals statistics office CBS said on Monday.
The sombre mood under high earners is notable because they are usually more confident in the economic than people on low incomes, the CBS said.
The lack of faith in the economy has had a knock-on effect on retail sales. Although overall turnover was up in March, this is due to higher prices and the number of shopping days, the CBS said. In volume terms, sales were down, meaning people bought less but paid more.
In particular consumer electronics and clothing shops say their turnover rise because of higher prices.
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