Friday 07 October 2022

Consumer confidence index hits new record low in September

Dutch consumer confidence fell to a new low in September, the fifth month in a row that the index has set a record.

In September, the index fell to -59, down from -54 in August, and consumers have never been so negative about both the economy and their own financial situation, the CBS said.

The index reached its highest ever position of 36 in January 2000.

The sub-index, covering the economy, fell to -79 and reflected increasing pessimism about both the past 12 months and next year, the CBS said.

Consumers have also never been so unwilling to spend money on major purchases and fewer expect to make savings. In total, only 50% say they expect to be able to save any money in the coming year and 85% say prices have gone up sharply – also a record – the CBS said.

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