Economic situation slightly worse

29/06/2012 09:30

The economic situation at the end of June was slightly worse than at the end of May. This was caused mainly by a deterioration of the investment and bankruptcy indicators. Just as in May, 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 0.8 percent in the first quarter of 2012 compared to the same period one year previously. In the fourth quarter of 2011, the economy had also contracted by 0.8 percent.Taking calendar and seasonal effects into account, the economy grew by 0.3 percent in the first quarter compared to the preceding quarter. In the two preceding quarters, the economy had shrunk compared to the previous quarter.

Consumer confidence fell to -40 in June. Manufacturers were just as pessimistic in June as in May.

In April, manufacturing output was approximately the same as twelve months previously. The volume of goods exports was 6 percent up on April 2011. The volume of private sector investments in tangible fixed assets, on the other hand, was 6 percent down. Household spending decreased by 2 percent.

The capital market interest rate was 2.0 percent in May. This is the lowest rate in decades. The inflation rate was 2.1 percent. Prices of existing owner-occupied dwellings sold were on average 5.5 percent down on one year previously. Selling prices in the manufacturing industry were 2.1 percent up on May 2011.

Seasonally adjusted unemployment remained stable in May. 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.