Dutch economic picture slightly more negative in Feb than in Jan

The tracer monitors the state of the Dutch economy. It provides an overall macroeconomic picture of the past month or quarter based on all figures published by CBS.

Consumers were more negative in February than they were in January, while producers were less negative. Consumer confidence was below the long-term average for the past 20 years, and producer confidence was slightly above average.

Household spending was 1.8 per cent higher year on year (YoY) in December last year, adjusted for price changes and the shopping-day pattern. Households spent more on both services and goods.

In December 2024, the volume of investment in tangible fixed assets was up by 9.7 per cent YoY. The total volume of goods exported during the month (adjusted for the number of working days) was down by 1.1 per cent YoY. Export volumes were lower for petroleum products, crude oil and natural gas.

The calendar-adjusted output of the Dutch manufacturing sector was 4.4 per cent lower YoY in December 2024. After adjustment for seasonal and calendar effects, manufacturing output fell by 1 per cent in the month on month.

Adjusted for the number of court session days, the number of companies declared bankrupt in January was the same as in December. The number of bankruptcies has not increased since 2024.

At the end of the fourth quarter (Q4) last year, there were almost 404,000 vacancies in the country, 7,000 more than in the previous quarter, a CBS release said.

Unemployment stood at 386,000 in January 2025—3.8 per cent of the labour force, which means that the unemployment rate has risen for the first time in five months. From November to January, an average of 3,000 people per month became unemployed.

According to the first CBS estimates, gross domestic product (GDP) increased by 0.4 per cent in Q4 2024 quarter on quarter. In Q3 the economy grew by 0.8 per cent QoQ.

The growth that occurred in Q4 was mainly due to the trade balance and investment. Consumption also made a positive contribution.

ALCHEMPro News Desk (DS)