Netherlands Economic Forecast

Netherlands Economic Outlook

February 4, 2020

Growth in the Dutch economy was stable in the third quarter compared to the second, and the economy continued to outstrip the Euro area average. The expansion was primarily driven by government expenditure and a positive contribution from the external sector; growth in private consumption, on the other hand, cooled notably in the quarter. Meanwhile, turning to the final quarter of last year, the economy likely slowed somewhat. Industrial output fell notably in October–November over the third quarter while the manufacturing PMI signaled an overall deterioration in the sector through December, sinking to the lowest level in over six years. More positively, household consumption and retail sales strengthened in October–November relative to the Q3 average, amid a tight labor market translating into strong wage growth.

Netherlands Economic Growth

The economy is expected to expand at a softer clip this year as domestic demand eases on waning investment outlays, likely linked to the uncertain global backdrop amid Brexit uncertainty and the U.S.-China trade spat. However, the government’s fiscal expansion and weaker inflationary pressures should boost household consumption. FocusEconomics Consensus Forecasts panelists project the economy to grow 1.4% in 2020, which is unchanged from last month’s forecast, and 1.5% in 2021.

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Netherlands Facts

Value Change Date
Bond Yield-0.065.70 %Jan 01
Exchange Rate1.120.65 %Dec 31

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