Economic situation deteriorated marginally

28/12/2012 09:30

The economic situation at the end of December has deteriorated marginally relative to the end of November. The heart of the scatter in the Business Cycle Tracer is located deep in the recession stage. All indicators are currently below their long-term average.

The Dutch economy shrank by 1.5 percent in the third quarter of 2012 compared to the same period one year previously. Taking calendar and seasonal effects into account, the economy contracted by 0.9 percent in the third quarter compared to the preceding quarter.

In December, Dutch consumers were slightly more pessimistic than in November. Manufacturers, on the other hand, were slightly less gloomy than one month previously.

In October, manufacturing output was 1.7 percent down on October 2011. The volume of goods exports was 6 percent higher. The volume of private sector investments decreased by more than 4 percent. Household spending on goods and services was 2.4 percent down on twelve months previously.

The capital market interest rate was 1.7 percent in November. The inflation rate was 2.8 percent. Prices of existing owner-occupied dwellings were on average 6.8 percent down on one year previously. Selling prices in manufacturing industry were 3.4 percent higher in November 2012 than in November 2011.

Seasonally adjusted unemployment increased further in November. The number of jobs fell further in the third quarter. People also worked fewer hours in temp jobs than in the second quarter of 2012. The number of job vacancies was nearly the same as in the second quarter.

Gross domestic product (GDP)

Gross domestic product (GDP)

More figures can be found in dossier Business cycle.

For more information on economic indicators, the reader is referred to the Economic Monitor.