Economic situation virtually unchanged

31/08/2012 09:30

The economic situation at the end of August was as unfavourable as at the end of July. Improvements en deteriorations balanced each other out. Just as in July, the heart of the scatter in the Business Cycle Tracer is located in the recession stage. Fourteen of the fifteen indicators are currently below their long-term average.

The Dutch economy shrank by 0.5 percent in the second quarter of 2012 compared to the same period one year previously. In the first quarter, the economy contracted by 0.8 percent. Taking calendar and seasonal effects into account, the economy grew by 0.2 percent in the second quarter compared to the preceding quarter. Quarter-on-quarter economic growth had also been 0.2 percent in the first quarter.

The mood among Dutch consumers was just as negative in August as in July. Manufacturers were slightly less pessimistic than in the preceding month.

The capital market interest rate was 1.8 percent in July. This is the lowest rate in decades. The inflation rate was 2.3 percent. Prices of existing owner-occupied dwellings sold in July were on average 8.0 percent down on July 2011. Selling prices in manufacturing industry were 1.7 percent up on twelve months previously.

Seasonally adjusted unemployment increased in July. The number of job vacancies and the number of jobs fell further in the second quarter. On the other hand, people worked more hours in temp jobs in the second quarter of 2012 than in the first quarter.

Gross domestic product (GDP)

Gross domestic product (GDP)

More figures can be found in dossier Business cycle.