Economic situation more favourable

28/01/2011 09:30

The economic situation has improved further at the end of January 2011 relative to the end of December 2010. Indicators in the Business Cycle Tracer improved across the board. The heart of the scatter in the Tracer is located in the recovery stage. In January, thirteen of the fifteen indicators are still 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.

Consumer confidence improved in January 2011, after a drop in December 2010. The mood among manufacturers and business services providers also improved, but to a lesser degree.

In November, the volume of goods exports grew by 8 percent. Manufacturing output increased by 5 percent. Household spending was 2.6 percent up on November 2009. Private sector investments in tangible fixed assets, on the other hand, were over 4 percent lower.

In December, Dutch inflation stood at 1.9 percent. The capital market interest rate rose further to 3.2 percent. Selling prices in manufacturing industry were nearly 11 percent higher than one year previously. 

The situation on the labour market has improved. Seasonally adjusted unemployment dropped further to 401 thousand in December. 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.