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Financial News: Dutch Consumer Confidence Rises; Spending Growth Accelerat

Dutch Consumer Confidence Rises; Spending Growth Accelerates

06/22/2021 - 01:59:00 (RTTNews)

(RTTNews) - Dutch consumer confidence improved in June but remained negative, data released by the Central Bureau of Statistics showed on Tuesday.

The consumer sentiment index rose to -3 in June from -9 in May. A similar high reading was last seen in March 2020.

Consumers were less negative about the economy and willingness to buy improved in June. Consumers were positive about future employment.

Household consumption growth accelerated sharply in April due to the low base of comparison last year amid the first lockdown, the statistical office said in a separate report.

Household consumption increased 9.4 percent annually, reversing a 0.4 percent drop in March. The statistical office said household consumption increased at the fastest rate since the Second World War.

Consumers spent 17.3 percent more on durable goods and spending on food and tobacco was up 3.4 percent. They spent 6.7 percent more on services.

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