ABN Amro forecasts GDP will drop 3.5%, if normal life returns mid May
4 years, 9 months ago

ABN Amro forecasts GDP will drop 3.5%, if normal life returns mid May

Dutch News  

The Dutch economy will shrink by 3.5% this year because of the coronavirus outbreak and all sectors of the economy will be hit, according to new forecasts by ABN Amro economists. On Thursday, the government’s economic think-tank CPB said in a worst case scenario the coronavirus crisis could plunge the Dutch economy into deep depression, with GDP declining by up to 7.7%. The CPB has analysed four scenarios for the impact of coronavirus on the economy in 2020 and 2021, based on the duration of restrictions on physical contact and the severity of the economic impact. All four scenarios result in recession, with GDP declining by between 1.2% and 7.7% in 2020, the CPB said.

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History of this topic

Dutch economy to grow slightly this year despite recession: ABN Amro
1 year, 4 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 …

No recession, but little growth for Dutch economy this year: ABN Amro
1 year, 10 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 …

ABN Amro profit up over 55% to €1.9 billion due to rising interest rates
1 year, 11 months ago

ABN Amro profit up over 55% to €1.9 billion due to rising interest rates

NL Times  

One of the largest banks in the Netherlands, ABN Amro, saw profits last year rise by more than half compared to a year earlier. The interest rates mean ABN Amro can earn wider margins on savings that people have deposited with the bank. ABN Amro now also thinks it is in a strong enough position to reward its shareholders, which …

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 …

Home prices to drop 2.5% next year: ABN Amro
2 years, 2 months ago

Home prices to drop 2.5% next year: ABN Amro

NL Times  

Home prices will fall 2.5 percent next year, ABN Amro economists predicted in a report on the housing market. The number of home purchases is falling, there are more homes for sale, and everything indicates that, after years of unprecedented price increases, house prices will fall next year,” ABN Amro wrote. “The increased housing requirements due to working from home, …

Lockdown costing hospitality industry €200 million in revenue weekly: ABN Amro
3 years ago

Lockdown costing hospitality industry €200 million in revenue weekly: ABN Amro

NL Times  

The current lockdown means that the catering industry is losing 200 million euros in turnover every week, economists at ABN Amro have calculated. The leisure sector, which includes both the hospitality industry and travel organizations, will also not return to the level of 2019 next year, due to the effects of the coronavirus pandemic. The transport and logistics sector also …

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 …

Partial lockdown to cause wave of bankruptcies: ABN Amro
4 years, 2 months ago

Partial lockdown to cause wave of bankruptcies: ABN Amro

NL Times  

The partial lockdown the government implemented on Wednesday to try and get the spread of the coronavirus under control, will mean bankruptcy for many companies, ABN Amro economist Philip Bokeloh expects. The lockdown includes catering establishments closing for everything except takeaways, limits on alcohol sales, and no more than 30 people allowed in many public places like theaters. While this …

World economy seen withstanding coronavirus better than forecast
4 years, 3 months ago

World economy seen withstanding coronavirus better than forecast

Live Mint  

The global economic slump won’t be as sharp as previously feared this year, though the recovery is losing pace and will need support from governments and central banks for some time yet, according to the OECD. The world economy will shrink 4.5% this year, less than the 6% forecast in June, the Paris-based institution said on Wednesday, upgrading its outlook …

Dutch economy will only be back on pre-Covid levels in 2022: ABN Amro
4 years, 6 months ago

Dutch economy will only be back on pre-Covid levels in 2022: ABN Amro

NL Times  

It will take the Dutch economy until 2022 to fully recover to pre-coronavirus crisis levels, according to ABN Amro economists. In the third quarter - the current quarter - the economy will grow strongly compared to the second quarter, after the low point was reached in April and May due to the lockdown closing multiple sectors. That will only be …

Dutch economy poised to shrink nearly 6% this year: Rabobank
4 years, 7 months ago

Dutch economy poised to shrink nearly 6% this year: Rabobank

Dutch News  

The Dutch economy will contract by 5.7% this year, despite all the government support, Rabobank economists said on Monday in a new quarterly update. ‘The relatively mild lockdown caused a smaller contraction in the first half of the year than in many other eurozone countries,’ the economists said. Nevertheless, the Rabobank economists say not all sectors of the Dutch economy …

Deepest recession in 100 years facing Dutch economy; better off than other EU countries
4 years, 7 months ago

Deepest recession in 100 years facing Dutch economy; better off than other EU countries

NL Times  

Despite the coronavirus support packages, the Dutch economy is facing its deepest dip in a hundred years, according to Rabobank economists in their quarterly report. The economy will shrink by nearly 6 percent this year, they expect, but add that the Netherlands is better off than many other European countries, NOS reports. "Restaurants and cafes are allowed to open again, …

IMF sees Dutch economy shrinking 7.5% this year, unemployment to hit 6.5%
4 years, 8 months ago

IMF sees Dutch economy shrinking 7.5% this year, unemployment to hit 6.5%

Dutch News  

The Dutch economy will shrink by 7.5% this year before recovering in 2021, the International Monetary Fund said on Tuesday in what it called ‘very uncertain’ economic forecasts. The IMF says in its new World Economic Outlook that the Dutch economy will grow again by 3% in 2021, while unemployment, currently 3.4% will almost double to 6.5% by the end …

IMF sees Dutch economy shrinking 7.5% this year, unemployment to hit 6.5%
4 years, 8 months ago

IMF sees Dutch economy shrinking 7.5% this year, unemployment to hit 6.5%

Dutch News  

The Dutch economy will shrink by 7.5% this year before recovering in 2021, the International Monetary Fund said on Tuesday in what it called ‘very uncertain’ economic forecasts. The IMF says in its new World Economic Outlook that the Dutch economy will grow again by 3% in 2021, while unemployment, currently 3.4% will almost double to 6.5% by the end …

ABN Amro forecasts GDP will drop 3.5%, if normal life returns mid May
4 years, 9 months ago

ABN Amro forecasts GDP will drop 3.5%, if normal life returns mid May

Dutch News  

The Dutch economy will shrink by 3.5% this year because of the coronavirus outbreak and all sectors of the economy will be hit, according to new forecasts by ABN Amro economists. On Thursday, the government’s economic think-tank CPB said in a worst case scenario the coronavirus crisis could plunge the Dutch economy into deep depression, with GDP declining by up …

Dutch economy to shrink 3.5% due to Covid-19 measures: ANB Amro
4 years, 9 months ago

Dutch economy to shrink 3.5% due to Covid-19 measures: ANB Amro

NL Times  

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. If the scenario ABN Amro is working on turns out to be true, and restrictions are lifted in May, there will be some recovery …

Coronavirus to put Dutch economy in recession: Rabobank
4 years, 9 months ago

Coronavirus to put Dutch economy in recession: Rabobank

NL Times  

The Covid-19 crisis will result in the Dutch economy shrinking by 0.2 percent this year, according to economists from Rabobank. "The crisis is affecting almost all sectors, but the biggest blows are in the construction, agriculture, hospitality, and transport sectors," the economists said. Although the business community is happy with the government's measures to prevent mass redundancies, they fear the …

ABN Amro expects 10% more bankruptcies this year
5 years, 8 months ago

ABN Amro expects 10% more bankruptcies this year

NL Times  

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. ABN Amro Between …

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