Wednesday, April 29, 2015 - 09:14
ABN Amro: Dutch economy to grow 2 percent
The Dutch economy is expected to grow by 2 percent this year, ABN Amro writes in its annual Vision on Sectors. This growth will put a number of sectors at their highest level in years. The bank expects growth in exports, investment and consumption in 2015, NU reports. Consumer confidence has reached its highest level in 8 years and the ABN Amro analysts believe that consumers will spend more this year. Companies in the retail, construction and leisure sectors will benefit from the low inflation and changes in the housing markets. Entrepreneurs will invest more and increase their sales. Companies that make or sell capital goods like machinery and transport equipment will benefit from low interest rates as they will be able to get cheaper financing. The low euro rate will further increase exports. Several sectors will benefit from this, especially the agricultural sector, industry and transport. The bank foresees that a number of sectors will have difficulty increasing their profitability, despite the economic growth. "For example, because there is overcapacity or because major structural changes take place", said Jacques van de Wal, head of ABN Amro's Economic Department Netherlands. He referred to the retail sector, where the rise of online shopping has resulted in there being too many stores.