FX.co ★ Dutch Business Confidence Remains Subdued

In July 2025, the business confidence indicator in the Netherlands saw a slight increase to -4.9, up from a one-and-a-half-year low of -5.0 in June. Despite this minor improvement, the indicator still hovered significantly below its 20-year average of -1.3. Manufacturers expressed greater optimism regarding production expectations for the upcoming three months, with the index increasing to 4 from 2.3 in June. Nevertheless, their evaluation of finished goods inventories worsened, dropping to -7.3 from -6.3, and their assessment of order books also declined slightly to -11.4 from -11.1. Confidence among producers continued to be negative in almost all sectors. Notably, only manufacturers in the wood and building materials industry had a positive outlook for July, whereas those in the metal industry remained the most pessimistic.