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
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
June 1, 2021
The NEVI manufacturing Purchasing Managers’ Index (PMI), produced by IHS Markit, continued to reach new record-heights, with the index rising to 69.4 in May from 67.2 in April.
May 31, 2021
Business confidence came in at 8.8 in May, up from April's 6.5.
May 24, 2021
Consumer confidence rose to minus 9 in May from April's minus 14.
May 18, 2021
A preliminary reading of national accounts data showed that the economy contracted 0.5% quarter-on-quarter in the first quarter of 2021, entering its second recession since the Covid-19 crisis began last year.
April 29, 2021
Sentiment among producer reached a two-year high in April, with the confidence index jumping to 6.5 from 3.4 in March.