Economic situation virtually unchanged

30/03/2012 15:00

The economic situation at the end of March was about the same as at the end of February. Improvements and downswings more or less balanced each other out. The heart of the scatter in the Business Cycle Tracer is located in the recession stage. Thirteen 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 0.6 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 0.6 percent in the fourth quarter compared to the preceding quarter. Quarter-on-quarter economic growth was negative for the second consecutive quarter.

Consumer confidence dropped in March. The mood among manufacturers also deteriorated.

The volume of goods exports increased by nearly 2 percent in January relative to twelve months previously. The volume of private sector investments in tangible fixed assets decreased by nearly 1 percent. Manufacturing output was down by 2 percent relative to January 2011. Household consumption was 1.7 percent down on January 2011.

The capital market interest rate remained stable at 2.2 percent in February. The inflation rate stood at 2.5 percent. Selling prices in the manufacturing industry were 4.8 percent up on February 2011.

Seasonally adjusted unemployment dropped by 5 thousand in February. 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.