Economic situation virtually unchanged

The economic situation at the end of January 2012 was about the same as at the end of December 2011. Improvements and downswings more or less balanced each other out. The heart of the scatter in the Business Cycle Tracer is firmly located in the recession stage. All fifteen indicators are currently below the level of their long-term average.

Economic growth declined further. The volume of the gross domestic product (GDP) was 1.1 percent higher in the third quarter of 2011 than in the same quarter last year. In the second quarter the economy still grew by 1.6 percent. Taking calendar and seasonal effects into account, the economy contracted by 0.2 percent in the third quarter compared to the preceding quarter, after growing continuously for the past two years.

Dutch consumers were just as pessimistic in January 2012 as in the preceding month. The mood among manufacturers hardly changed.

In November, the volume of goods exports increased by nearly 1 percent relative to November 2010. Manufacturing output was down by 1 percent. The volume of private sector investments in tangible fixed assets grew by 3 percent relative to November 2010. Household consumption was 1.2 percent down on twelve months previously.

The capital market interest rate dropped to 2.4 percent in December. The inflation rate stood at 2.4 percent, 0.2 percentage points down on the preceding month. Selling prices in the manufacturing industry were 6 percent up on one year previously.

Seasonally adjusted unemployment remained stable in December. In the third quarter, fewer hours were worked in temp jobs than in the second quarter. There were also slightly fewer jobs and job vacancies.

Gross domestic product (GDP)

Gross domestic product (GDP)

More figures can be found in dossier Business cycle.