Business Survey Netherlands (COEN)
The Business Survey Netherlands (Conjunctuurenquête Nederland, COEN) maps out the most important developments in the economic climate for Dutch entrepreneurs. It does so on both a national and a regional level. The COEN forms an addition to monthly surveys carried out by Statistics Netherlands (CBS) and the Economic Institute for Construction (Economisch Instituut voor de Bouw, EIB) at a European level.
What is the COEN?
The COEN is a survey that interviews entrepreneurs each quarter about relevant topics, such as developments in turnover, profitability, investments, and staffing levels. Business owners answer questions about experiences in the past quarter and expectations for the current quarter. The business confidence survey combines various of these topics to identify an overall sentiment. This business confidence indicator is available for the Netherlands as a whole, and for various sectors and industries. Based on the results of the COEN, CBS also publishes monthly figures on producer confidence in the manufacturing industry.
1st quarter, 2024 - Business Confidence Indicator
Business confidence, the mood indicator of the Dutch business community, is negative for the 9th quarter, coming in at -7.7 at the start of the first quarter of 2024. This is lower than the series average (-4.0), but up from a quarter earlier, when the indicator stood at -10.1. This puts business confidence at its highest level since the first quarter of 2022. In 7 out of 14 business sectors, the mood indicator goes down, in 6 it goes up, and in 1 business sector, business confidence remains unchanged. Only in the sectors Information & Communication, and Business Services is the mood indicator positive.
Business confidence went up from -10.1 to -7.7 in Q1 2024. Business confidence is relatively highest in Information & communication (2.3), Business services (1.6) and Other service activities (-1.5). Entrepreneurs in Mining & quarrying (-28.9), Sale and repair of motor vehicles (-21.5) and Agriculture, forestry and fishing (-16.9) are relatively the most negative.
Expectations
On balance, entrepreneurs are negative about the Business climate (-6.7%), Turnover ( -5.3%) and Purchase orders (-0.9). Expectations for Sales prices/rates (34.5%), Personnel (8.7%) and Investments (0.6%) are on balance positive.
Obstacles
35.3% of entrepreneurs experience a Labour shortage. But also a Shortage of production resources material and space (7.0%), Insufficient demand (20.4%), Financial limitations (7.9%), Weather conditions (9.0%), and Other reasons (8.8%) are considered obstacles. 33.8% of entrepreneurs experience no obstacles. The different obstacles now add up to more than 100%. Entrepreneurs can enter a maximum of 2 answers for the obstacle question. The percentage represents the proportion of entrepreneurs who chose this obstacle.
Related articles
Questions relating to this article?
Please contact Statistics Netherlands, CBS