The Netherlands’ consumer confidence fell for the eighth month in a row in March to the weakest level since late 2014, data from the Central Bureau of Statistics showed on Wednesday.
The consumer confidence index dropped to minus 4 from minus 2 in February. The latest reading was the lowest since December 2014, when the score was minus 4.
The latest reading is slightly below the past twenty years’ average of minus 3.
Economic expectations of households deteriorated further in March, with the relevant survey measure dropping to minus 3 from 1 and the willingness to buy easing to minus 3 to minus 4 in February.
Consumers were less inclined to spend more in March and the willingness to buy indicator fell to -4 from -3 in February. Households were more negative regarding their financial situation over the past 12 months and were less inclined to make big purchases.
Separate data from the CBS showed that household spending annual growth eased to 0.9 percent in January from 2.5 percent in January. Consumers spend mainly on gas and less on cars.
The CBS said the conditions for consumption in March are slightly better than in January.
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