Economic situation deteriorates marginally

The economic situation at the end of February was a bit more unfavourable than at the end of January. This is mainly due to economic decline. The heart of the scatter in the Business Cycle Tracer is firmly located in the recession stage. Fourteen of the fifteen indicators are currently below the level of their long-term average.

The Dutch economy contracted in the fourth quarter of 2011. The volume of the gross domestic product (GDP) declined by 0.7 percent relative to one year previously. In the third quarter, the economy still grew by 1.1 percent. Taking calendar and seasonal effects into account, the economy also contracted by 0.7 percent in the fourth quarter compared to the preceding quarter. Quarter-on-quarter economic growth was negative for the second consecutive quarter.

Dutch consumers were slightly less pessimistic in February. The mood among manufacturers hardly changed.

The capital market interest rate dropped to 2.2 percent in January. This is the lowest level in decades. The inflation rate stood at 2.5 percent, 0.1 percentage points up on the preceding month. Selling prices in the manufacturing industry were 5.5 percent up on January 2011.

Seasonally adjusted unemployment increased by 18 thousand in January. The number of job vacancies dropped further in the fourth quarter, but the number of jobs grew marginally. More hours were worked in temp jobs in the fourth quarter relative to the third quarter.

Gross domestic product (GDP)

Gross domestic product (GDP)

More figures can be found in dossier Business cycle.