Economic situation slightly improved

The economic situation at the end of November was slightly better than at the end of October. Marginally more indicators improved than deteriorated. The heart of the scatter in the Business Cycle Tracer is located in the recovery stage. Thirteen of the fifteen indicators in the Tracer are currently below their long-term average.

In the third quarter, the volume of the gross domestic product was 1.8 percent higher than in the third quarter of 2009. Economic growth was less substantial than in the second quarter. Compared to the preceding quarter the economy contracted with 0.1 percent in the third quarter, taking calendar and seasonal effects into account.

In November, the consumer confidence indicator rose further and stood at -7. The mood among manufacturers hardly changed. Providers of business services were slightly less optimistic than in October.

The capital market interest rate rose marginally in October to reach 2.6 percent. Dutch inflation stood at 1.6 percent. Selling prices in manufacturing industry were 9 percent higher than in October 2009.

The situation on the labour market has improved marginally. Seasonally adjusted unemployment dropped further to 410 thousand in October. The number of jobs in the third quarter of 2010 was marginally higher than in the second quarter. The number of vacancies was also slightly higher. The number of hours worked in temp jobs increased by nearly 5 percent in the second quarter compared to the first quarter.

Gross domestic product (GDP)

Gross domestic product (GDP)

More figures can be found in dossier Business cycle.