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Financial News: Dutch Consumer Spending Continues To Decline; Sentiment We

Dutch Consumer Spending Continues To Decline; Sentiment Weakens

10/22/2020 - 01:54:00 (RTTNews)

(RTTNews) - Dutch consumer spending continued to decline in August albeit at a slower pace, data from the Central Bureau of Statistics showed on Thursday.

Consumer sentiment deteriorated further in October as households were more negative about economic climate, survey results revealed.

Consumer spending decreased 5.8 percent year-on-year in August, slower than the 6.4 percent fall in July. This was the sixth consecutive fall.

Spending on services declined 14.3 percent from last year, while purchases of durable goods grew 8.2 percent.

Another report from the statistical office showed that consumer confidence deteriorated slightly in October. The consumer sentiment index fell to -30 from -28 in September.

The economic climate sub-index slid to -61 from -58 a month ago. Consumers were more negative about economic situation over the coming twelve months, while assessment about the past twelve months remained unchanged in October. Expectations about the future financial situation improved marginally, while assessment of past financial situation dropped moderately in October. The willingness to buy sub-indicator remained at -9.

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