ECONOMIC SITUATION DETERIORATING FURTHER IN JULY IN THE NETHERLANDS
17/07/2020
According to the CBS Business Cycle Tracer, the economic situation has deteriorated further this month. The economy in July 2020 is deep in recession. Statistics Netherlands (CBS) reports that as of mid-July, 11 out of the 13 indicators in the Business Cycle Tracer are positioned below their long-term trend. As of the reporting month of March, the effects of measures against the coronavirus outbreak have had a major impact on many indicators of the Tracer.
- Consumers and producers less negative in june compared to the previous months.
- Exports shrank by 11.8 percent in May 2020, investments down by 10.6 percent and household consumption down by 17.4 percent in April 2020 compared to April 2019
- Manufacturing output 12.5 percent down in May. Output showed the largest year-on-year decrease in the span of more than 11 years.
- Fewer bankruptcies in June
- Number of jobs continues to grow in Q1 (increase of 0.2 percent) compared to the previous quarter.
- 1.5 percent GDP contraction in Q1 relative to the previous quarter.
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