Dutch economic climate in Oct 2022 less positive than in Sept: CBS

There was little or no change in the confidence of both consumers and producers in October. Consumer confidence remained at its lowest level ever and was well below the long-term average over the past two decades. Producer confidence was slightly less positive in October than a month earlier, but was above its long-term average, CBS reported.

Households spent 4.1 per cent more in August 2022 year on year, adjusted for price changes and number of shopping days. They again spent more on services, but less on goods.

In August this year, the total volume of goods exports was up by 2.5 per cent year on year. Growth is slightly larger than in the previous month. The increase over August was mainly seen in exports of machinery and appliances.

In August, the average daily output generated by the Dutch manufacturing industry was up by 5.9 per cent over August 2021. Growth has been fairly stable over the past three months, but smaller than in the preceding months.

There were 25 more bankruptcies in September than in the previous month. The number of pronounced bankruptcies is low compared to the period before the outbreak of the novel coronavirus crisis. In the first three quarters of 2022, it was approximately 5 per cent higher than in the first three quarters of 2021.

According to the second quarterly estimate conducted by CBS, in the second quarter gross domestic product (GDP) grew by 2.6 per cent relative to the previous quarter. GDP was up by 5.1 percent relative to the second quarter last year.

ALCHEMPro News Desk (DS)