2019.02.2007:16:00UTC+00Dutch Consumer Confidence Turns Negative For First Time Since 2015

Dutch consumer confidence eased for a seventh month running in February to turn negative for the first time since early 2015, amid deterioration in economic expectations and the willingness to buy.

The consumer confidence index dropped to minus 2 from 1 in January, preliminary data from the Central Bureau of Statistics showed on Wednesday. The latest reading was the lowest since February 2015.

Despite turning negative in February, the latest reading was still above the 20-year average of minus 3.

The economic expectations index of the survey dropped to 1 from 3 and the willingness-to-buy index decreased to minus 3 from minus 1.

Households were more pessimistic regarding their past financial situation and felt that this is not the right time for making big purchases.

Separate data from the CBS showed that households spending grew 2.3 percent year-on-year in December, same as in November. Consumers spend mainly on food and cars.

The CBS said that conditions for consumption in February are slightly less favorable than in December.

Spending on food grew over 3 percent and that on durable goods increased nearly 3 percent, led by increased spending on cars and household appliances.