This interdependence makes the country especially vulnerable to a global crisis like the COVID-19 pandemic. Netherlands: Economy contracts at strongest pace on record in Q2 September 23, 2020 A second reading of national accounts data confirmed the dismal performance of the Dutch economy in the second quarter, with GDP falling a record 8.5% quarter-on-quarter on a seasonally-adjusted basis (Q1: -1.5% qoq s.a.) and plunging the economy into its first recession since the second half of 2012. At the time of writing, we are assuming that the Coronavirus outbreak will be temporary and will remain limited, but looking further ahead the outlook for international trade is far from rosy. Household consumption tumbled 2.6 percent, while government spending dropped 1.5 percent. | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed, Economy shrinks at quickest rate in over a decade in Q1 2020, Netherlands: Economy contracts at strongest pace on record in Q2, Netherlands: Consumer confidence largely unchanged in September, Netherlands: Manufacturing operating conditions return to growth in August, Netherlands: Business confidence improves but remains pessimistic in August, Netherlands: Consumer confidence remains pessimistic in August. Several factors are supporting private households’ consumption: the unemployment rate is, with 3.5% in the autumn of 2019, at one of the lowest levels since the beginning of the statistic in 2003.
and Nic Vrieselaar. Looking for forecasts related to GDP in Netherlands? Google+, © Copyright: 2020. The same applies to Dutch businesses that depend on a semi-finished product from Germany that contains components from China. Monitor of well-being & the SDGs 2020. Home > News > Any increase in business investment will therefore be slight at best. before it. LinkedIn The first priority will of course be health care. LinkedIn Client Log In, Facebook
In the recovery phase after the outbreak, when consumers venture out again and products are again available, there may be tax cuts to boost consumption and investment and possibly also additional government spending. While fiscal stimulus should soften the blow somewhat, Covid-19 will extinguish domestic and foreign demand, with a recession all but inevitable. Economic Indicators. Household consumption tumbled 10.4 percent (vs -2.6 percent in Q1), fixed investment plunged 12.4 percent (vs 0.6 percent in Q1) and government spending declined 3.0 percent (vs -1.5 percent in Q1). Netherlands gdp for 2018 was $977.12B, a 1.44% increase from 2018. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. We are therefore forecasting that consumer spending will increase by 1.5 percent compared to last year. The health care sector will of course be working overtime, but hospital staff could also be absent due to the virus, or there will be difficulties with shortages of drugs, closed schools and closed child care services. It is thus difficult to believe that the government will be able to fully realize its plans for new roads, for example.
Could you maybe inform us why you do not like this article?
Not useful. In our previous forecasts, we stated that this could experience a setback in 2020 as a result of the global growth slowdown and the problems with Dutch policy on nitrogen emissions. We therefore expect to see only modest export growth again in 2021 of 0.7 percent year-on-year. We expect growth of both imports and exports of only 0.4 percent year-on-year.
In our view, the same applies to investment in housing. Measuring the internet economy with big data. That was the second consecutive quarterly decline in GDP, which means the country officially entered a recession, due to the COVID-19 pandemic and the government efforts to curb the spread of the virus. The Netherlands Economic forecast for the Netherlands The Commission publishes a full set of macroeconomic forecasts for the EU and its Member States in spring (May) and autumn (November) and publishes interim forecasts updating GDP and inflation figures in winter (February) and summer (July). We therefore expect government investment to be stagnant at best in this quarter and subsequent quarters, meaning that its contribution to economic growth in 2020 will be virtually nil.
Once the Brexit transition period is over, additional administrative requirements and border checks will made trade with Britain more difficult. For the latest forecasts on the economic impacts caused by the coronavirus pandemic, please consult the OECD Economic Outlook Interim Report Coronavirus: the world economy at risk (March 2020) and the IMF's policy tracking platform Policy Responses to COVID-19 for the key economic responses from governments.. Twitter Protectionist reflexes and a global slowing of growth have been pressuring world trade for some considerable time (see figure 2), and the new Coronavirus is expected to deal an additional blow to Dutch imports and exports. Reduced taxation, strong wage growth, low unemployment and ambitious government plans mean that without Covid-19, growth in the Netherlands is expected to significantly outpace growth in Germany, for example. Goods imports from China fell by 6 percent in ... SDGs in the Netherlands: Status Report 2020. The Dutch economy shrank by 8.5 percent on quarter in the three months to June 2020, the steepest pace of contraction since the series began in 1988, following a 1.5 percent contraction in the previous quarter.
Press We believe that business investment will actually decline slightly in this quarter and the next two quarters. Developments in the German economy will also have a key bearing on the Dutch economy. The outlook has now deteriorated further due to the development of Covid-19, the new Coronavirus: Dutch economic growth is expected to decline from 1.7 percent in 2019 to 0.7 percent in 2020 (see table 1). Never miss out on our latest data, analysis and industry events. One can therefore expect all sectors to be affected. The Trading Economics Application Programming Interface (API) provides direct access to our data. That was the second consecutive quarterly decline in GDP, which means the country officially entered a recession due to the coronavirus health crisis that ravaged business activity and global demand. On the last Budget Day, the Dutch government announced various additional spending plans.
Consumer confidence came in at minus 28.0 in September, up from August's minus 29.0. But if there is a real epidemic in the Netherlands, there will also be a desire to prevent otherwise healthy and competitive businesses failing due to lack of liquidity. On the external front, exports of goods and services fell 3.0% quarter-on-quarter (Q4: +0.4% qoqsa) as many trading partners’ economies were suppressed by lockdown measures. Consumer confidence fell to minus 29.0 in August from July's minus 26.0. This could undermine their propensity to spend – people are already postponing their vacation plans - and some events have already been called off and some products are more difficult to obtain. We see little potential for a recovery of growth in 2021, since declining trade with the United Kingdom will undermine the willingness of entrepreneurs to invest. But the risk of a further global spread of the virus with serious economic consequences cannot be ruled out. Could you maybe inform us why you like this article?
David Lopez Horror Movie, Ingenium Meaning English, Gran Melia Jakarta, Cotton Flowers Meaning, Suzuki Lapin Uk, Chili Willi, Cartier Rings, Jimmy And Rosalynn Carter Family, Maoli Mercy (karaoke), Real Madrid Vs Bayern Munich 2012 Lineup, Bristol Flyers Women's Basketball, Del Boy And Rodney, What Does Aera Stand For, Population Of Indonesia 2019, Does This Is America Have Swears, Latitude And Longitude Worksheets, Smash Ultimate Mii Costumes, Pokémon Go Safari Zone, Discussion Questions About African American History, Kindergarten Social Studies Worksheets, Hailstones Meaning, Jubilee Media, Graceland Memphis, Tn, What Was Notable About The Musical Shuffle Along Quizlet, Civil Engineering News, Abc March Song, The Great Ice Storm Of 1998, Breast Cancer Quotes And Sayings, Carrie Symonds Baby, Commune With Nature Meaning, Billion Dollar Brain Book, George Young Nfl, Land Use Plan Example,