Dutch consumer confidence index plunges 20 points as coronavirus kicks in

The CBS consumer confidence index, corrected for seasonal differences

The Dutch consumer confidence index plunged 20 points in March, its biggest monthly drop ever recorded, the national statistics agency CBS said on Wednesday.

The decline takes the index to -22, still well above its all time low of -41 in March 2013. The index has averaged around -5 over the past 20 years.

In particular, consumers’ willingness to spend money has dropped 19 points, as people worry about the impact of coronavirus on their own finances. Some 85% of people expect unemployment will rise over the next 12 months, the CBS said.

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