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Dutch consumer willingness and spending drops amid weak economic sentiment

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4 years ago

April 22, 2022

Dutch consumer confidence fell further in April than the previous month, mainly due to growing pessimism over the economy and a drop in willingness to spend money, according to the Dutch Statistics Office CBS.

CBS reported that the indicator fell 9 points to -48, as compared with March's -39 points when the war in Ukraine was first included in the survey.

Consumers were more negative than ever about the economy and their desire to buy fell further to -34, the lowest level ever recorded.

CBS reported that consumers have never found it so difficult to make major purchases in the past than April 2022.

The statistics office also reported that consumer spending in the Netherlands increased 13.8% year-on-year in February, thanks to the gradual lifting of COVID-19 restrictions. The majority of consumers spent a lot on durable goods, such as clothing, furniture and electrical equipment.

CBS reported that April's consumption conditions were still less favourable than February. This was due to pessimism about the future and worries over unemployment. The March figure, 3.3%, fell from 3.4% one month earlier.

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