Netherlands Economic Outlook
October 27, 2020The economy likely emerged from recession in Q3, although conditions remained fragile. Retail trade turnover plunged in August, while consumer and business confidence levels remained entrenched in pessimistic territory, which will have capped both household and capital expenditure. Nevertheless, manufacturing operating conditions improved in the quarter. Turning to Q4, further storm clouds gathered on the horizon in recent weeks, with a surge in new Covid-19 cases leading to renewed containment measures. The new restrictions announced in mid-October have seen cafes, bars and restaurants close their doors for four weeks, while travel has been severely restricted and social gatherings limited once again. These measures will derail recently regained momentum in the final quarter of a bleak year for the economy.
Netherlands Economic GrowthAfter suffering a sharp contraction this year due to the pandemic, the economy is forecast to recover strongly next year as domestic and foreign demand pick up steam. However, the balance of risks remains tilted to the downside owing to lingering uncertainty surrounding the pandemic and its effects. Moreover, the recovery will be flattered by a supportive base effect. FocusEconomics Consensus Forecast panelists see the economy expanding 3.5% in 2021, which is down 0.2 percentage points from last month, and growing 2.5% in 2022.
Netherlands Economy Data
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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 20, 2020
Consumer confidence came in at minus 26.0 in November, up from October's minus 30.0, marking the best reading in four months As such, the index moved closer to the 0-threshold, but still indicated pessimism among consumers.
November 13, 2020
According to a preliminary reading, the economy rebounded in the third quarter, with GDP growing 7.7% on a seasonally-adjusted quarter-on-quarter basis, contrasting the 8.5% contraction seen in the second quarter.
November 4, 2020
At the outset of the fourth quarter, manufacturing business conditions improved at a three-month soft pace as the NEVI Manufacturing Purchasing Managers’ Index (PMI) falling to 50.4 in October from 52.5 in September.
October 29, 2020
Business confidence fell to minus 5.6 in October from September's minus 4.8.
October 22, 2020
Consumer confidence came in at minus 30.0 in October, down from September's minus 28.0.