Netherlands Economic Outlook
May 31, 2022The Dutch economy made a hesitant start to the year, with growth evaporating on the back of falling household consumption and moderating investment growth. During the second quarter, the data points to a two-speed economy. On one hand, business confidence rose to its highest level since November 2021 in April, while the manufacturing PMI showed that operating conditions continued to improve during the month. On the other hand, consumer sentiment deteriorated significantly during April and May, with inflation remaining in double digits during April. This is likely to constrain household spending during the quarter, despite a further tightening of the labor market in April. Meanwhile, the European Commission recently listed tax distortions, the housing market, the pension system and the green-energy transition as key issues for the government to address.
Netherlands Economic GrowthEconomic growth will lose steam this year due to the impact of the war in Ukraine on sentiment, inflation and supply chains. Covid-19 lockdowns in China will put additional stress on supply chains and undermine export demand. However, robust fixed investment and a tight labor market, coupled with excess savings, should provide some support for growth. FocusEconomics Consensus Forecast panelists see the economy expanding 3.0% in 2022, which is down 0.1 percentage points from last month’s forecast, and 1.7% in 2023.
Netherlands Economy Data
5 years of Netherlands economic forecasts for more than 30 economic indicators.
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|Bond Yield||-0.06||5.70 %||Jan 01|
|Exchange Rate||1.12||0.65 %||Dec 31|
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Netherlands Economic News
November 29, 2022
Business confidence rebounded to 3.0 in November from October's 2.5.
November 21, 2022
Consumer confidence came in at minus 57.0 in November, improving slightly from October’s all-time low of minus 59.
November 17, 2022
Harmonized inflation decelerated to 16.8% in October, following September’s 17.1%.
November 15, 2022
According to the first quarterly estimate, GDP dropped 0.2% on a seasonally adjusted quarter-on-quarter basis in the third quarter, contrasting the 2.4% expansion recorded in the second quarter.
November 1, 2022
The NEVI Manufacturing Purchasing Managers’ Index (PMI), produced by S&P Global, fell to 47.9 in October from 49.0 in September.