The measures taken to curb the spread of coronavirus Covid-19 will result in the Dutch economy shrinking 3.5 percent this year, ABN Amro calculated on the assumption that the current restrictions will last about two months. Unemployment will be around 4.5 percent by this summer, compared to 2.9 percent in February, according to the bank.
The Dutch economy is expected to grow by 1.4 percent this year and 1.6 percent next year, according to the latest estimations by central planning office CPB. The expected growth is slightly higher than previous estimations in December. The CPB warned that the effects of the coronavirus outbreak on the economy are still very uncertain, but the virus will negatively impact economic growth if it is not quickly gotten under control.
The Dutch economy grew by 1.7 percent in 2019 - the lowest growth since 2014, according to figures Statistics Netherlands released on Thursday. Economic growth last year was boosted by more consumer spending and investments by companies. The trade-balance had a negative effect on the growth, the stats office said.
In 2018 the economy grew 2.6 percent. The growth is declining, "but if you compare it with the countries around us, we did very well," Statistics Netherlands chief economist Peter Hein van Mulligen said to NU.nl.
In the second quarter of this year, the Dutch economy grew by 0.5 percent compared to the first quarter - the same growth as in the previous two quarters. Compared to the second quarter of last year, the Dutch economy grew by 1.8 percent adjusted for the number of working days, Statistics Netherlands reported on Wednesday. The economic growth in the second quarter was higher than expected.
The disposable income of Dutch households increased by 2.4 percent in the first quarter of this year, mainly thanks to an increase in jobs and hours worked, Statistics Netherlands reported on Monday.
Adjusted for price increases, Dutch workers received 1.8 percent more salary in the first quarter than in the same quarter last year. The number of employee jobs increased by 2.5 percent and the number of hours worked increased by 1.6 percent.
The Dutch economy grew by 0.5 percent in the first quarter of 2019, the same growth as in the last quarter of 2018, Statistics Netherlands reported on Tuesday. Compared to the first quarter of 2018, the economy grew by 1.7 percent.
Adjusted for the number of days - the first quarter of 2019 had one day less than the first quarter of 2018 - economic growth amounted to 1.9 percent. In the first quarter of last year, the economic growth stood at 2.2 percent compared to a year earlier.
The Dutch economy grew by 2.5 percent last year, compared to 2.9 percent growth in 2017, Statistics Netherlands reported based on initial figures. The economic growth was boosted by higher consumer spending and business investment. The trade balance - the difference between imports and exports - contributed less to the growth than the year before.
Economic growth in the Netherlands dropped considerably in the third quarter. Compared to the second quarter, the economy grew by only 0.2 percent between start July and end September - the lowest quarterly growth in the past two years, Statistics Netherlands reported on Wednesday.
The Dutch economy will continue growing this year and next year, though a bit slower than expected, central planning office CPB said on Thursday. The CPB expects 2.8 percent growth in 2018 and 2.6 percent in 2019, instead of 2.9 percent and 2.7 percent as the office expected in June, NU.nl reports.
The Dutch economy continues to grow strongly and economic growth is even accelerating, according to Statistics Netherlands. In the second quarter the Dutch economy grew by 0.7 percent compared to the first quarter of this year. The stats office attributes the accelerating growth to foreign trade and higher investments.
The Dutch economy will grow by 2.5 percent this year - the highest growth in a decade, Dutch central bank DNB expects. The economy is doing better in all aspects, but wages are still lagging behind, the bank said in its latest estimate on Monday, NOS reports.
DNB's expectations are rosier than the central planning office CPB's estimates in March. The CPB then predicted economic growth of 2.1 percent. The office is releasing its latest estimates on Wednesday. The Dutch government uses CPB estimates to make its policy.
In March Dutch consumers spent 1.6 percent more than in the same month last year, according to Statistics Netherlands. Dutch especially spent more on clothing, shoes, home furnishings and services. This month consumer confidence is down 3 points to 23.
Services accounted for more than half of Dutch consumer spending in March. Spending on services increased by 1.9 percent compared to a year earlier. Housing rentals, public transit, restaurants, insurance and hairdressers, among others, fall under services.
This month consumer confidence in the Netherlands rose by one point to 14, reaching its highest level in 9.5 years, Statistics Netherlands announced on Monday. The slight rise can be attributed to more positive feelings about the economy and a slightly higher willingness to spend money, according to the statistics office.
At 14 points the consumer confidence level is well above the average -8 of the past 20 years. Consumer confidence reached its highest level in April 2000 when it stood at 27 points. Its low point was -44 in February 2013.
The Dutch economy grew by 2.1 percent in 2016, the strongest growth since 2007, according to preliminary figures Statistics Netherlands released on Tuesday. The economy of the Netherlands has shown steady growth for 11 quarters in a row, ANP reports.
In the fourth quarter of 2016 the economy grew by 0.5 percent. Compared to the fourth quarter of 2015, the growth was 2.3 percent.
The mood among Dutch consumers improved again in October, climbing to the highest level of consumer confidence in nine years, according to Statistics Netherlands. Consumer confidences increased by four points to 12 in October.
A decrease in the unemployment rate in the last quarter of 2015 led to slightly higher spending in November. Consumer confidence dropped by 2 points in January, according to figures released by Statistics Netherlands on Thursday.
In December almost all key indicators on the state of the Dutch economy are positive and most of the indicators on CBS Business Cycle Tracer are doing better than their long-term trend, Statistics Netherlands announced on Wednesday. The economic outlook is somewhat better than last month.
Despite the still high unemployment rate and number of people on welfare benefits, the economic outlook in the Netherlands is somewhat brighter in November than a month ago. Almost all key signals for the state of the Dutch economy are on green this month.
The mood among consumers improved significantly in October. Consumer confidence rose by three points compared to September and amounted to 8 - the highest level its been in more than 8 years. The increased confidence can be seen in willingness to buy. Consumers spent 1.4 percent more in August than in the same month last year.
Consumer spending in the Netherlands was up 1.3 percent in July compared to the same month last year. Like in the previous months, consumers especially spent more on home furnishings and household appliances.
Unemployment dropped to 6.8 percent of the working population in July, compared to 7.3 percent in the same month last year. Consumer confidence increased by 2 points in August and is up to 6. And consumers spent 2.2 percent more in June this year than in the same month in 2014.
Consumers spent 1.9 percent more on goods and services in March than a year earlier, according to figures from Statistics Netherlands (CBS). In general, they spent more on gas, household appliances and home furnishings.
Consumer confidence has barely changed between January and February 2015, despite December 2014 yielding about a 0.5 percent increase on goods and services spending from the same month the previous year, reported Statistics Netherlands (CBS) reported on Friday.