Consumers continue to have a negative outlook on the economy, according to the statistics office CBS. 

The monthly survey, which measures positive against negative expectations, found that consumer confidence in May has remained largely unchanged from April. 

The net figure of minus 37 is well below the average of the past two decades. 

Consumer confidence had been recovering in the two years since the end of the coronavirus pandemic, having hit an all-time low of minus 59 in the autumn of 2022, but remained in negative territory.

It reached a high point of minus 21 last September, but has been in decline ever since.

Those surveyed were also pessimistic about their personal financial situation and their willingness to make large purchases dropped slightly from April. 

The CBS has measured consumer confidence since 1986.