Consumer confidence in the Netherlands declined further in August, reaching a record low for the fourth time this year at -54, from -51 in July, latest data from Centraal Bureau voor de Statistiek (CBS) has unveiled.
Consumers were negative about the economy as well as their financial situation.
In August, consumer confidence was also well below the average of the past twenty years (-9), CBS noted.
In January 2000, confidence was at its highest level ever (36) and in August 2022 it was at its lowest (-54).
Data also showed that consumers were even more pessimistic about the economy in August than in July, with the component indicator economic climate falling from -71 to -74 – the lowest since the survey began in 1986.
Consumers were also pessimistic about the economy for the next twelve months, data showed.
Willingness To Buy
The willingness to buy dropped to -41 in August from -38 in July, again reaching the lowest level on record.
Consumers' opinion on the financial situation in the past twelve months as well as for the next twelve months deteriorated.
Shoppers also fell that the possibility of making big purchases was as unfavourable in this period as it was last month.
Elsewhere, British households are feeling 'a sense of exasperation' about the surging cost of living which has pushed consumer sentiment to its lowest since at least 1974, according to the country's longest-running survey of household finances.