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Financial News: Dutch Consumer Confidence Weakest Since 2013

Dutch Consumer Confidence Weakest Since 2013

05/20/2020 - 03:39:00 (RTTNews)

(RTTNews) - Dutch consumer confidence declined to the lowest since 2013 as households were more negative about economic climate amid coronavirus, or Covid-19, pandemic, data from the Central Bureau of Statistics showed on Wednesday.

Another report showed that the unemployment rate rose to the highest level in five months in April. The consumer confidence index fell to -31 in May from -22 in April. The score was far below the 20-year average of -5 points and reached its lowest level since 2013.

The economic climate sub-index decreased to -52 in May from -31 in the previous month. Assessment of the past economic situation declined significantly, while consumers' opinion on the future economic situation hardly changed.

The indicator for willingness to buy remained unchanged at -17 in May.

Households' assessment regarding their financial situation for the next 12 months hardly changed. However, consumers felt that it was unfavorable to make large purchases.

Another report from the statistical office showed that the ILO jobless rate increased to a seasonally adjusted 3.4 percent in April from 2.9 percent in March.

This was the highest rate in five months and the largest monthly increase in the unemployment rate since 2003.

The number of unemployed persons rose to 314,000 in April from 273,000 in the previous month.

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