Economic situation deteriorated

31/05/2012 09:30

The economic situation at the end of May was worse than at the end of April. 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 shrank by 1.1 percent in the first quarter of 2012 compared to the same period one year previously. This came after a 0.6 percent decline in the fourth quarter of 2011.Taking calendar and seasonal effects into account, the economy contracted by 0.2 percent in the first quarter compared to the preceding quarter. Quarter-on-quarter economic growth was negative for the third quarter in a row.

Consumer confidence fell in May. The mood among manufacturers deteriorated too.

The capital market interest rate was 2.3 percent in April, the same rate as in March. The inflation rate was 2.4 percent. Prices of existing owner-occupied dwellings sold in April 2012 were on average 5.2 percent down on one year previously. Selling prices in the manufacturing industry were 2.6 percent up on April 2011.

Seasonally adjusted unemployment increased by 24 thousand in April. The number of job vacancies fell further in the first quarter. The number of jobs also fell. People worked fewer hours in temp jobs than in the fourth quarter of 2011.

Gross domestic product (GDP)

Gross domestic product (GDP)

More figures can be found in dossier Business cycle.