Netherlands: Business confidence recovers from 18-month low
September 29, 2011
In September, the Statistics Netherlands (CBS) seasonally adjusted producer confidence indicator stepped up to minus 0.5 points from minus 3.3 points in the previous month. The subdued August reading had marked the lowest level in 18-months. According to CBS, ?manufacturers' opinions on their order positions and their stocks of finished products improved considerably. Expectations on their future output over the next three months were also more positive than in August.? Nevertheless, respondents turned more pessimistic about future employment. Meanwhile, the government recently cut its GDP growth projections from 2.0% for this year and 1.8% for next year to the current 1.5% for this year and 1.0% in 2012.