Netherlands Economic Outlook
August 31, 2021The economy grew at a record pace in the second quarter, rebounding from the first quarter’s contraction. Private consumption expanded amid the reopening of the economy, while public spending also rose and exports of goods and services increased at a quicker rate. Turning to the third quarter, manufacturing operating conditions remained well within expansionary territory in July, while business confidence rose to a record high in the same month. While this suggests that momentum continued to build at the outset of the period, economic activity will be weighed on by the reintroduction of Covid-19 restrictions until at least 19 September and labor supply issues; the unemployment rate dropped to a 16-month low in July amid firms’ reporting difficulty in filling vacancies.
Netherlands Economic GrowthThe economy will return to growth this year amid firming domestic and foreign demand as measures to curb the spread of Covid-19 are gradually lifted thanks to the vaccine rollout. That said, supply-side constraints could weigh on activity, while the rollback of fiscal support measures and cautionary consumer saving pose additional downside risks. FocusEconomics Consensus Forecast panelists see the economy expanding 3.1% in 2021, which is up 0.2 percentage points from last month, and 3.3% in 2022.
Netherlands Economy Data
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Netherlands Economic News
September 1, 2021
The NEVI manufacturing Purchasing Managers’ Index (PMI), produced by IHS Markit, dropped to 65.8 in August from 67.4 in July.
August 30, 2021
Business confidence fell from 12.3 in July to 9.6 in August.
August 23, 2021
Sentiment levels among Dutch consumers retreated midway through the third quarter, likely influenced by lingering lockdown measures.
August 17, 2021
The Dutch economy rebounded in the second quarter, with GDP expanding 3.1% quarter-on-quarter following the 0.8% contraction recorded in Q1.
August 5, 2021
The NEVI manufacturing Purchasing Managers’ Index (PMI), produced by IHS Markit, inched down to 67.4 in July from 68.8 in June.