Dutch consumer confidence dipped in December

Consumer confidence in the Netherlands dropped back to -26 in December 2024, compared to -25 the previous month, new data from Statistics Netherlands (CBS) showed.

The slight dip in confidence reflected a decline in both the overall economic outlook and consumers’ willingness to make purchases.

‘Consumers were almost as pessimistic at the end of 2024 as they were at the beginning of the year,’ CBS noted.

The current consumer confidence level is well below the long-term average of -10 recorded over the past two decades, although markedly up on the -59 that was recorded in October 2022.

Consumer confidence

Looking at the individual aspects that determine Statistics Netherlands’ consumer confidence indicator, the ‘economic climate’ index – which assesses consumers’ outlook on both the past and future economic situation – fell to -45 in December, down from -43 in November.

‘Consumers’ assessment of both the economic situation over the previous twelve months and the economic outlook for the next twelve months has deteriorated,’ CBS added.

The ‘willingness to buy’ index fell to -13, down from -12 in November, with consumers’ outlook for the next 12 months becoming slightly more negative. At the same time, however, they were somewhat less negative about making large purchases in December.

Consumers’ views on the economic outlook for the next year also worsened, with the balance falling from -34 in November to -37 in December.

The component assessing consumers’ financial situation over the past 12 months remained stable at -11, while the outlook for the next 12 months stood at 0, down from 1 in November.

Finally, consumer perceptions as to whether now is a good time to make large purchases, such as consumer durables, increased to -27 in December, up from -28 in November. Read more here.

GDP in Q3

Elsewhere, Statistics Netherlands data indicated that gross domestic product (GDP) in the Netherlands increased by 0.8 percent in Q3 2024 relative to Q2 2024.

GDP in the third quarter grew mainly because household and public consumption increased, it noted. However, the trade balance decreased. Read more here.