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.
The aging population of the Netherlands will result in the average growth of the Dutch economy falling to 1.1 percent between 2022 and 2025, central planning office CPB said in an estimate on Monday.
In the period 2022 to 2025, the population aged between 15 and 74 will decrease for the first time, the CPB expects. That will mean fewer and fewer new people entering the labor market, which will put economic growth under pressure. Purchasing power will also stop increasing in that period, according to the CPB.
The number of people in the Netherlands who live below the poverty line continues to decline, according to social and cultural planning office SCP. In 2017 nearly 939 thousand people did not have enough money to get by, compared to almost a million people the year before. The SCP attributes the decline to economic growth and increased employment, NOS reports.
Economic growth in the Netherlands will decline to 1.4 percent growth next year, according to the August Estimation by central planning office CPB. The declining growth is due to "bad wind from abroad", the CPB said, NU.nl reports.
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 economy in the Amsterdam Metropolitan region is expected to grow by 2.8 percent this year and 2.3 percent in 2020, according to the region's economic exploration. While the expected growth is lower than the 3.4 percent growth the region saw last year, the Amsterdam region is still one of the three fastest growing regions in Europe, together with Prague and Warsaw, NU.nl reports.
Eastern Europe is flourishing, with falling unemployment and rising wages. While this is great news for countries like Romania and Poland, it is a blow to the Dutch business world. Especially for companies that are increasingly dependent on migrant workers, ABN Amro said in a new report on labor migration, RTL Nieuws reports.
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.
Economic growth in the Netherlands will slow down this year, and that will affect businesses, according to ABN Amro. The bank's economists expect the Dutch economy to grow by 1.4 percent this year, almost half the growth 2018 saw. And the number of bankruptcies, excluding sole traders, will increase by 10 percent, ABN Amro expects, NU.nl reports.
The Dutch economy, measured by gross domestic product, grew by 2.7 percent last year. That is somewhat less growth than in 2017, when the highest economic growth since the financial crisis was achieved, Statistics Netherlands reported on Monday.
As in previous years, the economic growth in 2018 was largely due to increased employment. Household consumption contributed most to the economic growth last year. Investments in fixed assets also made a larger contribution. In previous years, foreign trade was the driving force behind the economic growth.
The average Dutch household now spends a larger share of their income on basic needs like housing, healthcare and energy than in 2008. They therefore have less money left over for services and items. As a result, households now consume less than before the crisis, while at the same time spending more money, ING's economic office said on Thursday, NU.nl reports.
The purchasing power increase that the central planning office CPB calculated for this year remains the same, despite a higher energy bill. 96 percent of all Dutch households will see their purchasing power increase, by an average of 1.6 percent this year and 1.3 percent next year. The increase is mainly due to higher wages, CPB said in a new estimate published on Tuesday, NU.nl reports.
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.
In a short New Year's address, Amsterdam mayor Femke Halsema praised the hopeful feeling around the city's future. She said the city wants more people to be able to access Amsterdam's growing prosperity through policy that addresses poverty, disenfranchisement, and crime.
The Dutch economy will continue to grow, but not as strongly as in the past years, according to new estimates by the Netherlands bureau for economic policy analysis CPB. Despite this, the Dutch economy continues to grow faster than the average in the euro zone, ANP 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 Amsterdam Metropolitan Region developed strongly after the financial crisis and will continue to do so in the coming years, according to the Economic Outlook Metropolitan Region Amsterdam 2018 that the city of Amsterdam published on Wednesday. The city attributes the region's success to its "diverse and open economy in which both large and small companies can grow".
Last year the Netherlands' national debt decreased by 18 billion euros, from 434 billion euros to 416 billion euros, according to the central government's annual report that was released on Wednesday. That comes down to 56.7 percent of the Netherlands gross domestic product.
With that the Netherlands closed a year with a national debt that complies with European rules for the first time since the outbreak of the financial crisis. According to European rules, a country's national debt must remain below 60 percent of GDP.
Almost all regions in the Netherlands saw economic growth last year. The Groningen region was the only one to see its economy shrink. The regions around Eindhoven and Almere saw the strongest growth, Statistics Netherlands reported on Tuesday.
In both the Eindhoven and Almere regions, the economy grew by 4.9 percent last year compared to 2016. In Zuidoost-Noord-Brabant - Eindhoven and its surroundings - last year's economic growth was mainly supported by industry and business services. In Almere, lease companies in particular contributed to the economic growth.
The Dutch economy will continue to grow strongly this year and next year, according to expectations announced by the Netherlands office for economic policy analysis CPB on Tuesday. Next year unemployment will drop to its lowest level since 2001, NU.nl reports.
The Dutch economy grew by 3.1 percent in 2017, the strongest growth in 10 years, Statistics Netherlands reported on Wednesday.
In the last quarter of 2017, the economy's growth decreased somewhat, but was still strong at 2.9 percent compared to the last quarter of 2016. Compared to the third quarter of 2017, the GDP grew by 0.8 percent.
Investments and exports in particular contributed to economic growth in the fourth quarter. Household consumption decreased somewhat, but the industry grew more.
The Dutch economy will grow by 3.1 percent next year, according to the Netherlands central planning office for economic policy CPB. "Such growth percentages have not occurred since 2007", CPB said, NU.nl reports. "Because of the persistently high growth, there will be a boom in the coming year."
The Dutch economy continues to grow strongly, with growth of over 3 percent expected for this year and next year, according to Dutch central bank DNB's latest forecast, RTL Nieuws reports.
The economic growth will reach a peak of 3.3 percent this year, the strongest growth in 10 years, according to DNB. Next year the bank expects the economy to grow by 3.1 percent, and 2.3 percent growth is expected in 2019. "We are moving from economic recovery to economic expansion", DNB director Job Swank said, according to the broadcaster.