Netherlands: Business confidence falters in October
October 27, 2011
The economy seems to be losing steam. In October, the seasonally adjusted producer confidence indicator elaborated by Statistics Netherlands (CBS) dropped from minus 0.5 points from minus 3.2 points. Owing to the decline, business sentiment now stands just a notch above the minus 3.3 points recorded in August, which had marked the lowest level in 18 months. According to CBS, ?manufacturers were much more pessimistic in October about both their order positions and future output than in September. Their opinions about their stocks also deteriorated, though to a lesser extent.? Furthermore, the number of respondents expecting employment to decrease in the next three months exceeded those expecting employment to improve. Meanwhile, the government projects the economy to expand 1.5% before moderating to 1.0% next year.