Economic situation unchanged

The economic situation at the end of July was the same as at the end of June. Improvements en deteriorations balanced each other out. Just as in June, the heart of the scatter in the Business Cycle Tracer is located in the recession stage. Fourteen 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.

The mood among Dutch consumers was less negative in July than in June. Consumer confidence improved by 8 points. Manufacturers, on the other hand, were slightly more pessimistic in July than in June.

In May, the volume of goods exports was 8.5 percent up on twelve months previously. The volume of private sector investments in tangible fixed assets decreased by over 8 percent. Household spending decreased by 2 percent and manufacturing output was 0.5 percent down from May 2011.

The capital market interest rate was 1.9 percent in June. This is the lowest rate in decades. The inflation rate was 2.1 percent. Selling prices in the manufacturing industry were 1.3 percent up on twelve months previously. Prices of existing owner-occupied dwellings sold in June were on average 4.4 percent down on June 2011.

Seasonally adjusted unemployment increased in June. 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)

More figures can be found in dossier Business cycle.