Since the start of measuring business confidence, pessimism among entrepreneurs has never been as great as during the corona crisis. The index stood at minus 37.2 in the second quarter of 2020, compared to 6.4 in the first quarter.
According to CBS This is the strongest decline ever measured, much lower than the low point of the financial crisis. Confidence has collapsed, especially in the catering industry, but entrepreneurs are also in decline in all other sectors. Expectations for the coming quarter are also very low. The figures were collected in April, so before the announced relaxation of the corona measures on May 6.
Statistics Netherlands asks entrepreneurs about, among other things, recruiting staff, the production achieved and expectations about turnover. Almost all companies think the worst is yet to come: 69 percent expect a deterioration in the economic climate. Only 3 percent think this will improve.
At the beginning of 2018, business confidence peaked at a value of 18.1. Since then, a downward trend has been visible in the mood indicator.
Business confidence is measured in the Netherlands Business Survey and is compiled based on figures from Statistics Netherlands, Chamber of Commerce, the Economic Institute for Construction, MKB-Nederland and VNO-NCW.
Also read: FHI Corona Survey: results per sector
Nederlands