Dutch economy will take years to recover from Covid-19 crisis: Planning office
4 years, 3 months ago

Dutch economy will take years to recover from Covid-19 crisis: Planning office

NL Times  

The coronavirus crisis will cause long lasting damage to the Dutch economy, even if the virus is completely under control soon, according to central planning office CPB. The labor supply and investments will only recover in the long term - ten years or more, the CPB expects. "That does mean that we missed out on two years of economic growth," the planning office said. In the short term, a mismatch in the labor market is also a concern, the planning office added.

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History of this topic

Dutch economy grew 4.5% last year; Consumer spending at record high
1 year, 10 months ago

Dutch economy grew 4.5% last year; Consumer spending at record high

NL Times  

The Dutch economy grew 4.5 percent last year, mainly thanks to more household consumption, Statistics Netherlands reported. Last year, 441,000 jobs were added to the job market, and the share of the Dutch population with paid work reached record heights. The added value of the culture, sports, recreation, and other services sector grew 34 percent last year. The Dutch economy …

Netherlands in a "mild" economic recession: ING economist
2 years, 1 month ago

Netherlands in a "mild" economic recession: ING economist

NL Times  

The Netherlands is in a mild economic recession, according to ING chief economist Marieke Blom. “I think we have passed the tipping point and are in a mild recession,” Blom said to Nieuwsuur. “But in the third quarter, we see that consumer spending is somewhat lower again.” Based on lower amounts spent and the increase in prices, Blom estimates that …

Dutch economy saw strongest growth in two decades
2 years, 10 months ago

Dutch economy saw strongest growth in two decades

NL Times  

The Dutch economy grew by 4.8 percent last year - the strongest growth since 1998. The Dutch economy grew slightly in the last quarter of last year, despite the Omicron coronavirus wave and new lockdown measures. According to the stats office, the added value of the hospitality industry was still over 30 percent lower last year than in 2019. And …

NL may get over €1bn less from EU coronavirus recovery funds
2 years, 10 months ago

NL may get over €1bn less from EU coronavirus recovery funds

Dutch News  

The Netherlands may receive more than €1bn less than expected from European coronavirus recovery funds because the economy has performed better than earlier estimates indicated, finance minister Sigrid Kaag told MPs on Friday The Netherlands had expected some €6bn from Brussels and €5.8bn had been used in calculations for drawing up the new government spending plans. However, the real figure …

NL may get over €1bn less from EU coronavirus recovery funds
2 years, 10 months ago

NL may get over €1bn less from EU coronavirus recovery funds

Dutch News  

The Netherlands may receive more than €1bn less than expected from European coronavirus recovery funds because the economy has performed better than earlier estimates indicated, finance minister Sigrid Kaag told MPs on Friday The Netherlands had expected some €6bn from Brussels and €5.8bn had been used in calculations for drawing up the new government spending plans. However, the real figure …

Dutch Central Bank slashed 2022 economic forecast; Long-term vision for pandemic needed
3 years ago

Dutch Central Bank slashed 2022 economic forecast; Long-term vision for pandemic needed

NL Times  

The Dutch Central Bank reduced its economic growth forecast for the Netherlands in 2022, predicting that the hard lockdown announced last weekend will be a blow to the Dutch economy. The central bank predicted the country will achieve growth of 2.2 percent next year, down from the 3.6 percent it previously projected. In a hastily produced calculation, Olaf Sleijpen, the …

Almost all Dutch regions' economies doing better than pre-Covid
3 years ago

Almost all Dutch regions' economies doing better than pre-Covid

NL Times  

In most Dutch regions, the economy had fully recovered from the coronavirus crisis in the third quarter, according to Statistics Netherlands. Only the economies in what the stats office calls Overig Groningen - almost the entire province except for the region around Delfzijl - and Haarlemmermeer are still smaller than before the pandemic. If gas extraction is excluded, the economy …

Dutch economy will grow by 3.6 percent next year: ING
3 years ago

Dutch economy will grow by 3.6 percent next year: ING

NL Times  

The Dutch economy will grow by 3.6 percent in 2022 according to projections by ING. "This is the main risk in the growth forecasts, especially with the developments of new variants of the virus," said ING economist Marcel Klok. ING is projecting the Dutch economy to grow by more than 4 percent compared to 2019 levels. ING thinks inflation will …

Dutch economy back to pre-Covid level in 3rd quarter
3 years, 1 month ago

Dutch economy back to pre-Covid level in 3rd quarter

NL Times  

The economy grew by 1.9 percent in the third quarter, bringing it to a higher level than before the pandemic for the first time since the outbreak of the coronavirus crisis, Statistics Netherlands reported. With the new increase, the economy has therefore fully recovered from the coronavirus contraction in the first and second quarter of last year. After that, there …

Second Covid recession over: Dutch economy growing again
3 years, 4 months ago

Second Covid recession over: Dutch economy growing again

NL Times  

After half a year of economic contraction, the Dutch economy grew by 3.1 percent in the second quarter of this year, Statistics Netherlands said on Tuesday based on the currently available figures. The Dutch economy is not back to pre-pandemic levels yet, but with coronavirus lockdown measure relaxing, it seems to be heading that way. Compared to the second quarter …

Dutch economy to recover to pre-pandemic level by end of year says Central Bank
3 years, 6 months ago

Dutch economy to recover to pre-pandemic level by end of year says Central Bank

NL Times  

The Dutch economy has been showing signs of recovery starting from the second quarter of this year after the historic hit to the GDP last year. Recovery is happening so quickly that GDP could eclipse pre-pandemic levels by the end of the year, the Dutch Central Bank estimated in their semi-annual report. The recovery will continue rapidly next year with …

Dutch economy recovering from Covid crisis faster expected: Rabobank
3 years, 6 months ago

Dutch economy recovering from Covid crisis faster expected: Rabobank

NL Times  

The Dutch economy is recovering from the coronavirus crisis faster than previously thought, Rabobank economists believe. The bank now predicts that the economy will grow by 3.8 percent this year, up from its previous expectation of 2.3 percent growth for 2021, ANP reports. In addition, the Dutch economy turned out to be more resilient than previously thought, the bank stated. …

Netherlands enters second recession since start of pandemic
3 years, 7 months ago

Netherlands enters second recession since start of pandemic

NL Times  

The Netherlands has entered its second economic recession in less than a year with preliminary data showing that the gross domestic product shrank by 0.5 percent during the first quarter of 2021. “In the first quarter of 2021, GDP was still 3.4 percent below the level before the outbreak of the coronavirus pandemic,” the CBS stated. GDP for the quarter …

Dutch economy to grow 2.2% this year; Less unemployment than feared
3 years, 8 months ago

Dutch economy to grow 2.2% this year; Less unemployment than feared

NL Times  

The Dutch economy will grow slightly less than previously expected this year due to the ongoing coronavirus pandemic. For this year, the CPB expects the Dutch economy to grow by 2.2 percent. Next year, the economy will strengthen further and CPB expects a growth of 3.5 percent. Now the CPB expects that unemployment will peak next year with over 400 …

Dutch businesses much more optimistic about recovery, growth
3 years, 9 months ago

Dutch businesses much more optimistic about recovery, growth

NL Times  

Businesses owners in the Netherlands and worldwide are much more optimistic now than they were a year ago. The vast majority expect the coming period to bring economic growth, both in general and for their own company, according to the annual survey business consultancy PWC conducts among board chairpersons, NOS reports. This year PWC surveyed the leaders of 5 thousand …

Lockdown extension will push Dutch economy into recession: Economists
3 years, 11 months ago

Lockdown extension will push Dutch economy into recession: Economists

NL Times  

If Prime Minister Mark Rutte extends the current hard coronavirus lockdown as he is expected to announce in a press conference on Tuesday, it will push the Dutch economy into a recession, NU.nl reported after speaking to economists from ING and Rabobank. The economists expect that the economy shrank in the last quarter of 2020, due to the stricter coronavirus …

NL sees fewest bankruptcies since 1991, despite pandemic
3 years, 11 months ago

NL sees fewest bankruptcies since 1991, despite pandemic

NL Times  

Despite the pandemic putting pressure on the Dutch economy, 2020 saw remarkably few Dutch businesses go bankrupt. A total of 2,703 companies were declared bankrupt last year, 16 percent less than in 2019 and the lowest number since 1991, Statistics Netherlands reported on Tuesday. The stats office attributed the low number of bankruptcies to the coronavirus support measures the government …

Economic growth will be slower next year due to second coronavirus wave: CPB
4 years ago

Economic growth will be slower next year due to second coronavirus wave: CPB

Dutch News  

The Dutch economy will contract 4.2% this year, slightly less than expected, the government’s macro-economic think-tank CPB said in its latest forecasts. However, the CPB said, the second coronavirus wave will mean the recovery next year will be slower than forecast earlier. Unemployment will increase to more than 6% in 2021, affecting particularly young people, employees on a flexible employment …

Economic impact of coronavirus will hit next year, experts say
4 years, 1 month ago

Economic impact of coronavirus will hit next year, experts say

Dutch News  

Despite the slight drop in the unemployment rate this week, and signs of a speedier economic recovery from the coronavirus crisis, the big hit will be felt in the second quarter of next year, according to experts. In total, 102 banking, legal and investment experts took part in a survey on the likely impact of the crisis carried out by …

Best ever quarterly improvement for Dutch economy; Not enough to make up for pandemic
4 years, 1 month ago

Best ever quarterly improvement for Dutch economy; Not enough to make up for pandemic

NL Times  

After an unprecedented contraction in the second quarter of this year, the Dutch economy showed the best ever improvement in the third quarter, growing by 7.7 percent. While the Dutch economy is performing better than average in the European Union, the growth in July, August and September was not enough to make up for the pandemic-triggered contraction in the first …

Dutch economy remains in deep dip, but government bailouts are having an impact
4 years, 2 months ago

Dutch economy remains in deep dip, but government bailouts are having an impact

Dutch News  

The Dutch economy remains in a deep dip but measures introduced by the government to bail out companies hit by the lockdown have had a major impact on key indicators, national statistics agency CBS said in its October economic update. Last month, figures from credit insurer Atradius show that the Dutch approach to the crisis has been ‘efficient’ and have …

Dutch have few ‘zombie companies’ but wave of bankruptcies is around the corner
4 years, 2 months ago

Dutch have few ‘zombie companies’ but wave of bankruptcies is around the corner

Dutch News  

Dutch government measures to bail out companies hit by the coronavirus crisis have not created large number of zombie companies compared to other European countries but this year will see a big increase in bankruptcies, the Financieele Dagblad said on Tuesday. Figures from credit insurer Atradius published in economic journal ESB show that the Dutch approach to the crisis has …

Dutch economy to shrink by 5% this year, if no more major Covid-19 restrictions
4 years, 4 months ago

Dutch economy to shrink by 5% this year, if no more major Covid-19 restrictions

Dutch News  

The government’s macro-economic think-tank CPB says the Dutch economy will shrink by 5% in 2020, assuming there are no more large-scale new physical contact restrictions needed to combat coronavirus. Prime minister Mark Rutte said last week that the cabinet is thinking ‘very carefully’ about what a third package of measures should include and finance minister Wopke Hoekstra said that a …

Dutch economy expected to grow again next year, Covid-19 effects to linger
4 years, 4 months ago

Dutch economy expected to grow again next year, Covid-19 effects to linger

NL Times  

The Dutch economy will shrink by 5.1 percent this year, but recovery will start at the end of the year and in 2021 the economy will grow by 3.2 percent, according to central planning office CPB's draft-macroeconomic foresight studies. The effects of the Covid-19 crisis will linger, however, with unemployment rising to 7 percent next year. Household consumption will decrease …

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