Netherlands' economic climate declines in March 2023

04 Apr '23

1 min read

Pic: Shutterstock/ BUTENKOV ALEKSEI

Insights

The Dutch economic climate in March 2023 is more negative than in February, with 7 out of 13 indicators performing above their long-term trend.
Consumer confidence has improved slightly, and producer confidence is above its long-term average.
In December 2022, exports increased YoY, with petroleum products, machinery, and others performing well.

Netherlands’ economic climate in March 2023 is more negative than it was in February, as per Statistics Netherlands (CBS). Around seven out of the 13 indicators in CBS’ Business Cycle Tracer were reported to be performing above their long-term trend.

Consumers are again less gloomy in March than they were in the previous month. However, consumer confidence is still low and well below the long-term average over the past two decades. Producer confidence has improved slightly in March and is above its long-term average.

In December, the total volume of goods exports (adjusted for working days) was up by 4.7 per cent year-on-year (YoY). The increase over December was mainly seen in exports of petroleum products and machinery. However, the export of chemical products was lower than in December 2021, CBS said.

In January 2023, the average daily output of the Dutch manufacturing industry was 2.9 per cent lower than in January 2022. This is the first decline in almost two years.

The Business Cycle Tracer is a tool to monitor the state and the cycle of the Dutch economy. It presents a coherent macroeconomic picture of the past month or quarter, based on all the figures published by CBS.

Fibre2Fashion News Desk (NB)

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