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 measures implemented in October and the lockdown implemented in mid-December. ING macro economist Marcel Klok thinks that in the first quarter this year the economy will shrink to the same level as in the second quarter of 2020, when the economy shrank an unprecedented 8.5 percent due to the pandemic and measures against it. Despite this gloomy outlook for the first quarter, both economists expect that the Dutch economy will recover quickly once lockdown measures start being lifted and people are getting vaccinated on a large scale.

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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 …

Two-thirds of NL residents expect more lockdowns in the future
2 years, 10 months ago

Two-thirds of NL residents expect more lockdowns in the future

NL Times  

On Tuesday, Health Minister Ernst Kuipers announced that the Netherlands would relax most coronavirus restrictions from February 25. There will be more coronavirus lockdowns and restrictions in the future, they said in a Hart van Nederland survey of 3,760 of its panel members. Some worried respondents believe that the Netherlands will go back into lockdown when the relaxed measures result …

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 …

Dutch evening lockdown will likely be extended into 2022: Report
3 years ago

Dutch evening lockdown will likely be extended into 2022: Report

NL Times  

The current slate of coronavirus restrictions will be extended at least until January 1, sources close to the Cabinet told NOS. The decision to extend the evening lockdown was based on advice from the Outbreak Management Team, which was discussed by several Cabinet members on Sunday afternoon. Additionally, there will be no change to the maximum number of household guests …

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 …

New Dutch coronavirus restrictions take effect today
3 years ago

New Dutch coronavirus restrictions take effect today

NL Times  

The new coronavirus measures Prime Minister Mark Rutte and Health Minister Hugo de Jonge announced on Friday will come into effect today. Along with the previously mentioned restrictions, an evening lockdown will begin lasting at least three weeks to lower the rising number of coronavirus infections in the Netherlands. Children in primary schools groups Six, Seven, Eight, and secondary school …

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 …

India Sees 11,850 New Covid Cases; Netherlands Imposes Lockdown as Virus Reaches New High
3 years, 1 month ago

India Sees 11,850 New Covid Cases; Netherlands Imposes Lockdown as Virus Reaches New High

News 18  

European governments are eyeing unpopular Covid curbs, with the Netherlands opting for Western Europe’s first partial lockdown of the winter as EU experts said 10 countries in the bloc were causing “very high concern”. Dutch premier Mark Rutte announced at least three weeks of lockdown measures targeting restaurants, shops and sporting events to curb a record spike in coronavirus infections. …

The Netherlands may face ‘lockdown-type measures’ to curb rising Covid cases: NOS
3 years, 1 month ago

The Netherlands may face ‘lockdown-type measures’ to curb rising Covid cases: NOS

Dutch News  

Government advisors are recommending ‘lockdown type measures’ to combat the rise in coronavirus infections for a two week period, sources close to the Outbreak Management Team have told broadcaster NOS. The seriousness of the situation – new infections are reaching record levels – makes such measures unavoidable, the sources say. Ministers are meeting to discuss the proposals on Thursday morning, …

Disposable income rises most in 20 years as Dutch economy posts stronger growth
3 years, 3 months ago

Disposable income rises most in 20 years as Dutch economy posts stronger growth

NL Times  

The Dutch economy grew more in the second quarter than initial figures showed and that is also reflected in household incomes, which saw the strongest growth since the second quarter of 2002, Statistics Netherlands reported In the second quarter of this year, Dutch households' disposable income was 3.1 percent higher than the same quarter last year. The number of jobs …

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 …

Hotel & Catering sector hit hard by first lockdown; Most bankruptcies since 2013
3 years, 4 months ago

Hotel & Catering sector hit hard by first lockdown; Most bankruptcies since 2013

NL Times  

The first lockdown in the coronavirus pandemic was hard on the Netherlands' catering and hospitality sector. From the third quarter of 2020, the bankruptcies in the catering and hospitality sector started keeping pace with the rest of the economy, with few companies declared bankrupt. The number of company closures in the catering and hospitality sector increased by 12 percent in …

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 …

Health Min.: Netherlands to proceed with lockdown easing this week
3 years, 7 months ago

Health Min.: Netherlands to proceed with lockdown easing this week

NL Times  

The caretaker Cabinet in the Netherlands confirmed on Monday that it will go ahead with relaxing some lockdown restrictions this week. By taking the second step in the country’s six-step plan to exit lockdown, the Netherlands will allow people to participate in more sports indoors and outdoors, and zoos, amusement parks, libraries and sex work locations will reopen from Wednesday. …

Netherlands lockdown likely loosened this week: Report
3 years, 7 months ago

Netherlands lockdown likely loosened this week: Report

NL Times  

The Cabinet is very likely to go through with the second step of lockdown easing on Tuesday, as the average daily number of Covid-19 hospitalizations has steadily declined since May 1, government sources told newswire ANP. The average number of new coronavirus infections has dropped off by a third since April 23 to 5,518, though the low results last week …

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 …

Cafes, bars and the high street fear extended lockdown bloodbath
3 years, 11 months ago

Cafes, bars and the high street fear extended lockdown bloodbath

Dutch News  

Employers in the retail and hospitality sectors fear a ‘bloodbath’ if the coronavirus lockdown in the Netherlands is extended for at least two weeks, as reported. ‘The cents have been spent, there is no more leeway,’ Dirk Beljaarts, head of the hospitality sector association KHN told the Telegraaf on Monday. Prime minister Mark Rutte is set to announce an extension …

Lockdown set to be extended, but new coronavirus case total is going down
3 years, 11 months ago

Lockdown set to be extended, but new coronavirus case total is going down

Dutch News  

The Dutch coronavirus lockdown is ‘almost certainly’ to be extended by three weeks, sources in The Hague have told broadcaster NOS. Ministers met at prime minister Mark Rutte’s official residence on Sunday to discuss the latest situation with key advisors, including public health chief Jaap van Dissel. On Sunday, for example, Menno de Jong, a virologist and member of the …

Rutte: Lockdown extension decision to come on Tuesday
3 years, 11 months ago

Rutte: Lockdown extension decision to come on Tuesday

NL Times  

Dutch Prime Minister Mark Rutte said that no final decision has been made about whether or not to extend the hard lockdown which the Netherlands entered amid escalating coronavirus infections on December 15. He said it would be “unusual” to scale down social restrictions at a time when infections remain high. “If it’s true that the infections are still too …

As the Netherlands moves into lockdown, a round up of what the papers say
4 years ago

As the Netherlands moves into lockdown, a round up of what the papers say

Dutch News  

The Dutch papers on Tuesday morning all agree on the inevitability of the new lockdown, with much 20-20 hindsight about the timing. The coronavirus measures ‘hit many disproportionally while sparing others’, the paper said, and this undermined solidarity between groups. ‘Metal fatigue’ among the population has been undermining the measures and Germany’s total lockdown opened up the possibility of shoppers …

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 PM criticized for confusion around Covid lockdown
4 years, 1 month ago

Dutch PM criticized for confusion around Covid lockdown

NL Times  

Prime Minister Mark Rutte faced criticism in parliament on Wednesday about the way he and Health Minister Hugo de Jonge announced that the partial lockdown against the coronavirus would be extended until end November. According to parties from both opposition and coalition parties, they mentioned it "in passing", resulting in confusion about whether or not the measures are extended, AD …

Rutte weighs up full lockdown to bring infections down faster
4 years, 1 month ago

Rutte weighs up full lockdown to bring infections down faster

Dutch News  

Extra lockdown measures could be imposed even if coronavirus infections level off in the next few days in order to bring the virus down under control faster, prime minister Mark Rutte has told parliament. Rutte said all options were still on the table, despite health minister Hugo de Jonge’s statement in a press briefing on Tuesday evening that the partial …

Rutte weighs up full lockdown to bring infections down faster
4 years, 1 month ago

Rutte weighs up full lockdown to bring infections down faster

Dutch News  

Extra lockdown measures could be imposed even if coronavirus infections level off in the next few days in order to bring the virus down under control faster, prime minister Mark Rutte has told parliament. Rutte said all options were still on the table, despite health minister Hugo de Jonge’s statement in a press briefing on Tuesday evening that the partial …

Too early to say if partial lockdown is working, prime minister says
4 years, 2 months ago

Too early to say if partial lockdown is working, prime minister says

Dutch News  

It is still far too early to tell if the partial lockdown announced on October 13 is having an effect on the spread of coronavirus in the Netherlands, prime minister Mark Rutte said at his weekly press conference after the cabinet meeting. The number of positive tests notified to the public health institute RIVM in the 24 hours to Friday …

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 …

Lockdown or a drip feed of Covid restrictions? One path is better for the economy
4 years, 2 months ago

Lockdown or a drip feed of Covid restrictions? One path is better for the economy

CNN  

London CNN Business — Governments across Europe are choosing between two vastly different strategies as a second wave of Covid-19 arrives in force. Robert Jenrick, the UK housing minister, told the BBC on Tuesday that Johnson’s government had “to balance protecting people’s lives,” with keeping people in education and employment. “No options are to be excluded considering the situation we …

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 …

'We need to go back into lockdown,' Dutch acute care chief says
4 years, 2 months ago

'We need to go back into lockdown,' Dutch acute care chief says

Dutch News  

The Netherlands needs to go back into lockdown as a matter of urgency to prevent hospitals becoming overloaded again, the head of the country’s intensive care association has said in a newspaper interview. Diederik Gommers told the AD he had had enough of the ‘half-baked’ measures brought in by the cabinet since the number of coronavirus infections began to rise. …

'We need to go back into lockdown,' Dutch acute care chief says
4 years, 2 months ago

'We need to go back into lockdown,' Dutch acute care chief says

Dutch News  

The Netherlands needs to go back into lockdown as a matter of urgency to prevent hospitals becoming overloaded again, the head of the country’s intensive care association has said in a newspaper interview. Diederik Gommers told the AD he had had enough of the ‘half-baked’ measures brought in by the cabinet since the number of coronavirus infections began to rise. …

Strict covid-19 lockdowns may speed up economic recovery: IMF
4 years, 2 months ago

Strict covid-19 lockdowns may speed up economic recovery: IMF

Live Mint  

Early lockdowns in an epidemic can substantially reduce infections, and policymakers should be wary of lifting them to jumpstart their economies when infections remain high, the International Monetary Fund said on Thursday. The COVID-19 pandemic showed that government lockdowns succeeded in lowering infections, the IMF wrote in a chapter of its forthcoming World Economic Outlook, but they also contributed to …

Stocks week ahead: The economic recovery hangs in the balance as winter approaches
4 years, 3 months ago

Stocks week ahead: The economic recovery hangs in the balance as winter approaches

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. The UK government isn’t ruling out another national lockdown, though the health secretary has said it would be “the last line of defense.” Such measures would be the worst-case scenario for economies experiencing a historic expansion following a record contraction. Just take it from Federal Reserve …

Difficult to Accurately Assess Economic Impact of Covid-19 Due to Evolving Dynamics: RBI
4 years, 3 months ago

Difficult to Accurately Assess Economic Impact of Covid-19 Due to Evolving Dynamics: RBI

News 18  

The Reserve Bank on Tuesday said it is difficult to accurately assess the economic impact of COVID-19 pandemic as the dynamics are still evolving. "COVID-19's epidemiological dynamics are still rapidly evolving in India, rendering difficult an accurate assessment of its full macroeconomic effects," RBI said in its annual report. It said dynamic stochastic general equilibrium model built on New Keynesian …

Difficult to accurately assess economic impact of Covid-19, says RBI
4 years, 3 months ago

Difficult to accurately assess economic impact of Covid-19, says RBI

Business Standard  

The Reserve Bank on Tuesday said it is difficult to accurately assess the economic impact of COVID-19 pandemic as the dynamics are still evolving. "COVID-19's epidemiological dynamics are still rapidly evolving in India, rendering difficult an accurate assessment of its full macroeconomic effects," RBI said in its annual report. It said dynamic stochastic general equilibrium model built on New Keynesian …

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 …

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