Economic picture less negative in September

The economic picture in the Netherlands was less negative in September than it was in August, according to the CBS Business Cycle Tracer. The picture shows an upward trend since August 2025. In the Tracer for September, 9 of the 13 indicators were below their long-term trend.

The CBS Business Cycle Tracer is a tool used to monitor the state of the Dutch economy. It provides an overall macroeconomic picture of the past month or quarter based on all the figures published by Statistics Netherlands (CBS). The situation will still vary between households, enterprises or regions, however.

Consumers less negative, producers more positive

Consumers were less negative, while producers were more positive in September than they were in August. Producer confidence was above the average for the past twenty years, while consumer confidence was below the average.

Exports, household consumption and investment up

In July 2026, the total volume of goods exported (adjusted for the number of working days) was up by 2.1 percent, year on year. Companies exported more machinery, in particular.

Households in the Netherlands spent 1.2 percent more on goods and services in July, year on year (adjusted for price changes and for differences in the shopping day pattern). They spent more on goods, in particular.

In July, the volume of investment in tangible fixed assets was up by 0.1 percent, year on year. Investments in machinery (including defence equipment), in particular, were higher.

Manufacturing output 9 percent higher in July, year on year

In July 2026, the calendar-adjusted output of the Dutch manufacturing sector was 9.0 percent higher than it was in July 2025. That is the largest increase in four years. In June the increase was 5.0 percent. Manufacturing output rose by 1.6 percent in July relative to June.

More bankruptcies in August

Adjusted for the number of court session days, there were 38 more bankruptcies in August than in July, an increase of 14 percent.

Price increase of existing owner-occupied homes continued to slow in August

The average price of an owner-occupied home (excluding newbuild homes) was 3.3 percent higher in August, year on year. In the previous month, the price increase was 3.9 percent. The year-on-year price increase of existing owner-occupied homes has been slowing down almost continuously since the end of 2024. August prices were down by 0.1 percent from July.

Unemployment up, hours worked unchanged, fewer vacancies

Unemployment remained at 4.0 percent in August. A total of 408 thousand people were unemployed. Unemployment increased by an average of 3 thousand per month over the past three months.
In Q2 2026, people employed and self-employed persons worked over 3.7 billion hours in total. Adjusted for seasonal effects, this was the same as in Q1.

At the end of Q2 2026, there were 375 thousand job vacancies, a decrease of 3 thousand compared to the previous quarter. The decline in the number of vacancies is continuing.
In Q2 2026, the turnover of temporary employment and job placement agencies was 5.8 percent higher, year on year.

Economic growth of 0.6 percent in Q2 2026

According to the second estimate from Statistics Netherlands (CBS), the Netherlands’ gross domestic product (GDP) grew by 0.6 percent in Q2 2026, relative to Q1. The increase in GDP in the first quarter of 2026 was mainly attributable to household consumption, the trade balance (exports – imports) and public consumption.