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 DNB director of monetary affairs and financial stability, said the organization is assuming the lockdown will last throughout the entire first quarter of the new year. The economy has grown by 4.5 percent this year, the central bank believes.

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History of this topic

Dutch economic growth will pick up in coming years, inflation to stay higher than EU
1 week, 4 days ago

Dutch economic growth will pick up in coming years, inflation to stay higher than EU

NL Times  

Economic growth in the Netherlands will pick up in the coming years growing 0.9 percent this year and 1.5 percent each in 2025 and 2026, despite an increasing threat from geopolitical uncertainty. The growth is mainly driven by household consumption and government spending, but the DNB also expects world trade to pick up and exports to contribute more to economic …

Consumer spending and government investments drive Dutch economic growth
2 weeks, 2 days ago

Consumer spending and government investments drive Dutch economic growth

NL Times  

Dutch consumers are expected to increase spending over the next two years, contributing significantly to the country’s economic growth, according to economists at Rabobank. Economists attribute this to an anticipated rise in consumer spending, which accounts for over 40 percent of the economy, and increased government investments in healthcare, defense, and green energy transitions. This growth is fueled by an …

Economists think the Dutch economy will avoid a recession
4 months, 1 week ago

Economists think the Dutch economy will avoid a recession

NL Times  

The Dutch economy will most likely avoid a recession. But this time, experts consulted by the financial news agency Bloomberg are counting on an average increase of 0.2 percent compared to the previous period. ABN Amro economist Aggie van Huisseling is expecting 0.2 percent growth. "It is also because the unemployment rate is so low," said Van Huisseling. Van Huisseling …

Dutch economic growth projections slashed in revised European forecast
1 year, 3 months ago

Dutch economic growth projections slashed in revised European forecast

NL Times  

The European Commission has significantly lowered expectations for economic growth in the Netherlands this year. In its summer forecast, the executive body of the European Union now says it expects growth of just 0.5 percent for the Netherlands in 2023. Because many wages have now been significantly increased and inflation is gradually decreasing, consumption will not decline further in the …

Dutch economy to grow slightly this year despite recession: ABN Amro
1 year, 3 months ago

Dutch economy to grow slightly this year despite recession: ABN Amro

NL Times  

ABN Amro expects the Dutch economy to grow slightly by 0.5 percent this year. Rising interest rates due to central bank interest rate increases also have a slowing effect because, for example, it makes borrowing more expensive. In addition, the European Central Bank’s target for inflation of 2 percent remains out of sight, according to ABN Amro. ABN Amro also …

Dutch central bank reports first loss since 1931 amid rising interest rates
1 year, 9 months ago

Dutch central bank reports first loss since 1931 amid rising interest rates

NL Times  

De Nederlandsche Bank suffered a loss of almost half a billion euros last year due to the sharp rise in interest rates. Due to the higher interest rates, the central bank itself has lost more money, while yields have tumbled on bonds purchased in droves in recent years. The last time the DNB suffered a loss was in 1931, when …

No recession, but little growth for Dutch economy this year: ABN Amro
1 year, 9 months ago

No recession, but little growth for Dutch economy this year: ABN Amro

NL Times  

The Dutch economy will not shrink this year, but its growth will slow down, ABN Amro expects. The bank predicts that the economy will grow 1.2 percent this year and 1.3 percent next year. Over the past two years, the Dutch economy grew more than 4 percent per year. The bank expects that consumer prices will rise by 4.4 percent …

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 …

ABN Amro: Netherlands can expect recession, but turnaround will lead to 2023 growth
2 years ago

ABN Amro: Netherlands can expect recession, but turnaround will lead to 2023 growth

NL Times  

The high inflation and rising interest rates are putting pressure on the Dutch economy, which will therefore wind up sliding into a recession. Because wages will also continue to rise and the government is limiting energy costs, consumers will likely start spending more starting in the second quarter next year. Despite that, experts at ABN Amro still think that consumer …

Dutch economy will contract in Q4, EU Commission says
2 years, 1 month ago

Dutch economy will contract in Q4, EU Commission says

Dutch News  

Most European countries will go into recession by the end of this year and this situation will continue until spring 2023, the European Commission said in its latest economic forecasts on Friday. The commission said the Dutch economy is set to stagnate in the third quarter and to contract modestly in the fourth. Read the forecast ‘The shocks unleashed by …

Dutch economy will contract in Q4, EU Commission says
2 years, 1 month ago

Dutch economy will contract in Q4, EU Commission says

Dutch News  

Most European countries will go into recession by the end of this year and this situation will continue until spring 2023, the European Commission said in its latest economic forecasts on Friday. The commission said the Dutch economy is set to stagnate in the third quarter and to contract modestly in the fourth. Read the forecast ‘The shocks unleashed by …

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 grew more than gov't debt in 2021
2 years, 8 months ago

Dutch economy grew more than gov't debt in 2021

NL Times  

Government debt amounted to 52.1 percent of gross domestic product last year, down from 54.3 percent. The Dutch government saw its income increase by 25 billion euros to 337 billion euros last year. People spent more in the second year of the coronavirus crisis than in 2020, which increased the government's VAT revenues by 6 billion euros. Non-tax revenues increased …

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 …

Inflation will remain high until 2023: Dutch central bank president
2 years, 10 months ago

Inflation will remain high until 2023: Dutch central bank president

NL Times  

The Netherlands and the eurozone will likely still be affected by high inflation at least into the summer of 2023, according to the president of the central bank of the Netherlands. President Klaas Knot of DNB estimates that the period of increased inflation will last more than a year and assumes that the European Central Bank will hike interest rates …

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 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 …

Dutch economy to grow 4.2% this year: Rabobank
3 years, 3 months ago

Dutch economy to grow 4.2% this year: Rabobank

NL Times  

The Dutch economy will likely grow by 4.2 percent this year and 3.7 percent next year, Rabobank wrote in a report. The bank expects that almost all business sectors will have fully recovered from the coronavirus crisis by 2022, provided no new restrictive measures are taken. Therefore, the bank expects "relatively strong" growth in gross domestic product in the second …

Dutch economy growing faster than expected; 3.8% growth this year
3 years, 4 months ago

Dutch economy growing faster than expected; 3.8% growth this year

NL Times  

The Dutch economy is growing faster than expected, the Bureau for Economic Policy Analysis said in its draft macro-economic surveys on Friday. The economy is expected to grow 3.8 percent this year, and 3.2 percent next year. The national budget deficit will amount to 5.3 percent this year, and 1.8 percent next year. That is slightly lower than the June …

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 …

Brussels revises Dutch economy recovery forecast, 3.3% growth expected
3 years, 5 months ago

Brussels revises Dutch economy recovery forecast, 3.3% growth expected

NL Times  

The European Commission has forecasted economic growth of 3.3% for the Netherlands during the next two years, De Telegraaf reported. “The European economy is making a strong comeback and all the right pieces are falling into place,” said EU Commission Vice President, Valdis Dombrovskis. The EU economy will grow at a rate of 4.8 percent on average this year, up …

Netherlands residents not spending lockdown savings: Rabobank
3 years, 6 months ago

Netherlands residents not spending lockdown savings: Rabobank

NL Times  

The billions of euros Netherlands residents put into their savings accounts during the coronavirus crisis will stay where it is for the time being. Most people don't plan on spending their savings in the near future, Rabobank concluded in a survey of 1,546 people, NOS reports. In 2020 Netherlands residents saved a massive 77 billion euros, the highest amount since …

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 …

Persistent pandemic will delay economic recovery: Dutch Central Bank
3 years, 9 months ago

Persistent pandemic will delay economic recovery: Dutch Central Bank

NL Times  

The economy will recover more slowly than Dutch central bank DNB expected due to an extended and stricter lockdown. “Despite all good intentions, the Netherlands is not the best student in the European class when it comes to sustainability lessons.” Low-interest rates impact general public Another prediction that the DNB has for the future is that interest rates on savings …

Dutch economy shrank by 3.8% last year, worst result since World War II
3 years, 10 months ago

Dutch economy shrank by 3.8% last year, worst result since World War II

Dutch News  

The Dutch economy shrank by 3.8% last year, the biggest contraction since World War II, national statistics agency CBS said on Monday. However, fewer jobs have gone than could have been expected, thanks to government support measures, CBS chief economist Peter Hein van Mulligen told an online press conference. 2021 Last week, the European Commission said the Dutch economy will …

Dutch economy shrank by 3.8% last year, worst result since World War II
3 years, 10 months ago

Dutch economy shrank by 3.8% last year, worst result since World War II

Dutch News  

The Dutch economy shrank by 3.8% last year, the biggest contraction since World War II, national statistics agency CBS said on Monday. However, fewer jobs have gone than could have been expected, thanks to government support measures, CBS chief economist Peter Hein van Mulligen told an online press conference. 2021 Last week, the European Commission said the Dutch economy will …

Dutch economy saw biggest contraction since WWII in 2020
3 years, 10 months ago

Dutch economy saw biggest contraction since WWII in 2020

NL Times  

The Dutch economy shrank by 3.8 percent last year, the largest contraction measured since the Second World War, Statistics Netherlands reported based on the currently available figures on Tuesday. The biggest blow to the economy happened in the second quarter of 2020, when the economy shrank an unprecedented -8.5 percent compared to the previous quarter. The culture, recreation, sports and …

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 …

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 …

Harsher Covid measures now will mean quicker economic growth: Dutch central bank
4 years ago

Harsher Covid measures now will mean quicker economic growth: Dutch central bank

NL Times  

Despite the government being expected to announce a hard lockdown in the Netherlands this evening, Dutch central bank DNB is still quite positive about the Dutch economy. These range from 4.9 percent economic growth next year in the mild scenario, to 0.2 percent growth in the severe scenario. If the strict lockdown is implemented as sources say and lasts until …

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 …

Dutch economy to shrink 4.3% this year, grow 2.6% in 2021: ING
4 years, 1 month ago

Dutch economy to shrink 4.3% this year, grow 2.6% in 2021: ING

NL Times  

After shrinking 4.3 percent this year, the Dutch economy will grow again in 2021, by 2.6 percent, economists at ING expect. The Dutch economy should be back to the size of the last quarter last year by mid-2022. Sectors hit hardest by the pandemic, like hospitality, transport and healthcare, will According to ING, the economic contraction this quarter will be …

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 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," …

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 …

Recession: Dutch economy shows worst ever contraction
4 years, 4 months ago

Recession: Dutch economy shows worst ever contraction

NL Times  

In the second quarter of this year, the Dutch economy shrank by 8.5 percent compared to the previous quarter and a massive 9.5 percent compared to the second quarter of 2019, Statistics Netherlands reported on Friday based on its first calculations. Households spent 10.4 percent less in the second quarter than in the first, an 11.8 percent less than the …

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