Analysis February: Economic situation less favourable
According to Statistics Netherlands’ Business Cycle Tracer, the economic situation in February 2020 is again less favourable than in the previous month. Nine of the thirteen indicators of the Tracer are performing above their long-term average.
In the course of February, new data have become available for all indicators, except for turnover by employment agencies. As a result, the distribution of the indicators across and within the quadrants has changed.
Three indicators moved to another quadrant. Bankruptcies and manufacturing production moved from the yellow to the red quadrant. These indicators are performing below its long-term average, and the growth grate is decreasing now. On the other hand, unemployment moved from the orange back to the green quadrant. This indicator is performing above its long-term average, but the growth grate is increasing now.
Seven indicators of the Business Cycle Tracer are situated in the orange, three in the red, two in the green and one is situated in the yellow quadrant. The growth rate of indicators in the red quadrant is below their long-term trend and slowing down. The growth rate of indicators in the yellow quadrant is also below their long-term trend, but increasing. The growth rate of the indicators in the green quadrant is above their long-term trend and increasing. The growth rate of indicators located in the orange quadrant is also above their long-term trend, but slowing down.