Economic situation more favourable

30/12/2010 09:30

The economic situation has improved further at the end of December relative to the end of November. This is mainly due to the optimistic mood among manufacturers by the end of the year. 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 1.9 percent higher than in the third quarter of 2009. Economic growth was less substantial than in the second quarter. Taking calendar and seasonal effects into account, the economy did not grow compared to the second quarter.

In December, the consumer confidence indicator dropped by 7 points and reached -14. The mood among providers of business services was less positive in December than in November. The mood among manufacturers, on the other hand, improved considerably.

In October, manufacturing output increased by 5 percent relative to one year previously. The volume of goods exports grew by just over 10 percent. Household spending was 1.1 percent up on October 2009. Private sector investments in tangible fixed assets, on the other hand, were over 5 percent down on one year previously. The decline was slightly less substantial than in September.

In November, the capital market interest rate rose further to 2.8 percent. Dutch inflation stood at 1.6 percent in November, equalling October’s inflation rate. Selling prices in manufacturing industry were 10 percent higher than one year previously. 

The situation on the labour market has improved marginally. Seasonally adjusted unemployment dropped further to 409 thousand in November. 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 3 percent in the third quarter compared to the second quarter.

Gross domestic product (GDP)

Gross domestic product (GDP)

More figures can be found in dossier Business cycle.