December economic outlook worsens, CBS tracker shows

Economic conditions in the Netherlands deteriorated further in December, but eight out of 13 key indicators are above their long-term trend, according to the National Statistics Office CBS.

The latest edition of the CBS Business Cycle Tracker finds consumer confidence still “very low” and well below its long-term average over the past 20 years, but both consumer and producer confidence are improving. I showed that.

Household spending in October 2022 increased by 0.6% year-on-year after adjusting for price fluctuations and the difference in shopping days. As in previous months, spending on services increased, but spending on goods decreased, according to CBS.

The number of corporate bankruptcies after adjusting for the number of days of trial has increased slightly compared to before the spread of the new coronavirus infection, but remains at a low level.

CBS’ revised economic growth forecast for the third quarter shows a decline of 0.2 percentage points quarter-on-quarter, mainly due to lower investment in building housing and infrastructure.

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Economists predict the Netherlands will enter a slight recession at the end of the year.And earlier this month, the government’s macroeconomic policy arm CPB said plans to limit energy prices would dampen the impact of rising fuel costs, but the average Dutch household is still 4% reduction in spending 2023.