March 16, 2010

CPBs short-term forecasts March/April 2010

The Dutch economy is expected to grow by 1½% this year and 2% in 2011. Following the historically deep economic contraction in 2009 (of 4%), unemployment will rise to 500,000 (on average) in both years. The average contractual wage increase is projected to equal inflation, at 1¼% in 2010 and 1½% in 2011.

Main conclusions of CPB’s short-term forecasts March/April 2010
Graph 'Economic growth in the Netherlands, 2008-2011'
Related Publications
Appendix: Main Economic Indicators for the Netherlands, 1970-2011

Main conclusions of CPB’s short-term forecasts March/April 2010

The Dutch economy is expected to grow by 1½% in 2010. For next year, a growth rate of 2% is foreseen.
Economic growth returned in the third quarter of 2009. Nevertheless, the production level in 2011 will still be below its peak of early 2008.
The estimated average unemployment rate in both 2010 and 2011 is 6½% of the labour force, or 500 000 people.
Contractual wage growth in the market sector will be equal to inflation this and next year: 1¼% in 2010 and 1½% in 2011.
The government budget deficit will be 6.3% GDP this year. The deficit falls to 4.9% GDP in 2011.

Read here the accompanying press release.