Early 2019, business confidence dropped to 10.6. That is three points lower than the last quarter. Entrepreneurs fear the consequences of Brexit in particular. Almost 1 in 4 companies expect consequences for their business operations.
That reports the CBS, KVK, the Economic Institute for Construction, MKB-Nederland and VNO-NCW based on figures from the Business Survey Netherlands. Business confidence is based on entrepreneurs in the non-financial business sector.
Companies are particularly afraid that Brexit will have a negative impact on the freedom of movement of goods and services. Also, 11 percent of entrepreneurs expect trade with the United Kingdom to decrease. Entrepreneurs in agriculture and industry in particular expect negative effects from Brexit.
Business confidence has fallen for the second quarter in a row. However, the sentiment indicator of Dutch entrepreneurs is still well above the average of 1.5. Confidence is highest in the construction sector. Business confidence is also above average among wholesalers and in business services.
Also read: First aid for Brexit
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