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Confidence among Dutch entrepreneurs is increasing slightly in Q2 2019, after two quarters of decline. However, staff shortages are still affecting business operations at some enterprises. This is reported by Statistics Netherlands (CBS), the Dutch Chamber of Commerce (KvK), the Economic Institute for Construction and Housing (EIB), the Dutch Organisation for Small and Medium-Sized Enterprises (MKB-Nederland) and the Dutch Employers’ Organisation (VNO-NCW) on the basis of newly released figures in the Netherlands Business Survey (COEN), which is held among Dutch entrepreneurs in the non-financial private sector.
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Following a two-month decline, business confidence has risen slightly. At the start of Q2 2019, the sentiment indicator of entrepreneurial Netherlands increased by 1.4 points to 12.0. This means that business confidence is well above the average level since monitoring started in 2008. However, the confidence level is down on the same quarter last year, when the indicator was at a historically high level.
Show datatableBusiness confidenceHide datatableBusiness confidence
Jaar | Kwartaal | Business confidence |
---|---|---|
Source: CBS, EIB, KVK, MKB-Nederland, VNO-NCW | ||
The horizontal line indicates the long-term average | ||
2008 | Q4 | -7.0 |
2009 | Q1 | -24.3 |
Q2 | -29.7 | |
Q3 | -23.5 | |
Q4 | -13.5 | |
2010 | Q1 | -7.1 |
Q2 | 0.5 | |
Q3 | 3.4 | |
Q4 | 6.1 | |
2011 | Q1 | 7.2 |
Q2 | 10.1 | |
Q3 | 3.2 | |
Q4 | -4.4 | |
2012 | Q1 | -6.3 |
Q2 | -6.8 | |
Q3 | -8.6 | |
Q4 | -9.2 | |
2013 | Q1 | -10.7 |
Q2 | -11.7 | |
Q3 | -8.7 | |
Q4 | -2.7 | |
2014 | Q1 | 1.6 |
Q2 | 4.7 | |
Q3 | 2.9 | |
Q4 | 4.9 | |
2015 | Q1 | 5.6 |
Q2 | 5.4 | |
Q3 | 8.7 | |
Q4 | 7.4 | |
2016 | Q1 | 9.3 |
Q2 | 8.8 | |
Q3 | 7.9 | |
Q4 | 9.2 | |
2017 | Q1 | 14.7 |
Q2 | 15.5 | |
Q3 | 15.9 | |
Q4 | 13.4 | |
2018 | Q1 | 18.1 |
Q2 | 14.2 | |
Q3 | 15.0 | |
Q4 | 13.4 | |
2019 | Q1 | 10.6 |
Q2 | 12.0 |
Again highest confidence level in construction sector
In most sectors where the confidence indicator is higher than the average level, confidence has declined. In most of the sectors with lower confidence than the average level, on the other hand, it has improved. Across the board, discrepancies between sectors are therefore smaller than in the previous quarter.
At 27.8, confidence among entrepreneurs in the construction sector is not as high as in Q2 compared to Q1. Nevertheless, it is the highest among all sectors for the eleventh consecutive quarter. Confidence is also above average among entrepreneurs in the sectors information and communication, wholesale trade and business services.
The transport and storage sector is seeing a substantial increase in Q2 (8.4), recovering from a slightly negative level in the previous quarter. Confidence in retail trade has picked up again as well after a decline in Q1 and stands at 10.9 in Q2. The indicator is negative in the mining and quarrying sector and in car trade and repairs.
Show datatableBusiness confidence, by industryHide datatableBusiness confidence, by industry
Ondernemersvertrouwen bedrijfstakken | Q2 2019 | Q1 2019 |
---|---|---|
Source: CBS, EIB, KVK, MKB-Nederland, VNO-NCW | ||
Non-financial private sector | 12.0 | 10.6 |
Construction | 27.8 | 31.2 |
Information and communication | 17.9 | 13.7 |
Wholesale and commission trade | 13.4 | 15.3 |
Business services | 13.0 | 17.1 |
Retail trade (excl. cars) | 10.9 | 4.9 |
Accommodation and food services | 8.6 | 11.9 |
Transport and storage | 8.4 | -0.2 |
Real estate, renting and business activities | 7.2 | 3.5 |
Manufacturing | 6.7 | 5.8 |
Mining and quarrying | -1.0 | 4.4 |
Car trade and repairs | -5.3 | -5.1 |
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