Consumer confidence fell to historic lows in September and October. An analysis by Statistics Netherlands on Wednesday showed that this number of people have never been more negative about their economic and financial situation.
In particular, the relatively large proportion of consumers who experienced some deterioration has led to a historically low consumer confidence (-59). The number of people who rated the financial situation as much worse was lower than in previous crises.
In particular, the desire to buy was much lower in October than in the previous periods of low confidence. Many consumers believe that the current time is not suitable for purchase, for example, a car, furniture or home appliances.
Moreover, opinions about the financial situation in the past and the coming year contribute negatively to the decrease in buying cravings. Remarkably, however, consumers are less negative about their financial future than before.
The number of pessimists has been historically high in recent months. This is mainly due to the significant increase in the percentage of consumers who said that their financial situation had been a little worse.