Dutch business confidence posts biggest quarterly rebound since 2021, but majority still pessimistic

Confidence among companies in the Netherlands recovered sharply, national statistics office CBS said on Thursday, recording the biggest quarterly improvement since 2021.

Despite the rebound, businesses remain more pessimistic than optimistic overall, and confidence sits below its long-term average. Almost four in five companies said economic uncertainty had increased over the past 12 months, with wars and trade tensions cited as the main cause by 42% of respondents — ahead of changes in demand and difficulty finding staff, suppliers, or materials.

Confidence improved in almost every sector. Construction and farming saw the biggest turnarounds, though both remain among the most pessimistic alongside bars, cafes, and restaurants. Only the tech and media sector and the culture, sport, and leisure sector turned outright positive. Car dealers and garages were the only sector to grow more downbeat.

Nearly three-quarters of firms facing greater uncertainty said they had changed how they operate, most commonly by making staff and working methods more flexible. Around one in five delayed or cut back investment.