Dutch consumers gloomier than ever in July: statistics-Xinhua

Dutch consumers gloomier than ever in July: statistics

Source: Xinhua| 2022-07-20 22:13:56|Editor: huaxia

THE HAGUE, July 20 (Xinhua) -- In July, consumer confidence in the Netherlands broke record low for the third time this year, the country's Central Bureau of Statistics (CBS) said on Wednesday.

Dutch consumers were slightly gloomier in July than in June. This month's consumer confidence indicator was minus 51, compared to minus 50 in June. Opinions on the economic climate and willingness to buy also fell to their lowest level ever.

The CBS consumer confidence indicator can take a value between minus 100 (all answers are negative) and plus 100 (all answers are positive). If the indicator is zero, the proportion of pessimists equals that of optimists.

The CBS has measured consumer confidence every month since April 1986. Since the start of the measurement, consumers have never before been so pessimistic about the economy.

The deteriorating and uncertain economic conditions are partly due to the rising prices caused by the Russia-Ukraine conflict.

At minus 51, the consumer confidence indicator in July was well below the average of the past 20 years, which was minus 9. Confidence reached its all-time high of plus 36 in January 2000. In April this year, the record was already broken with a score of minus 48.