December 15, 2009

CPBs short-term forecasts December 2009

The Dutch economy is set to revive in 2010, with economic growth projected to be 1½%. The economy is expected to contract by 4% this year, primarily due to a sharp fall in exports.

Main conclusions of CPB’s short-term forecasts December 2009

  • The Dutch economy declines by 4% in 2009. Next year, economic growth is expected to return: +1½%.
  • This year, relevant world trade contracts sharply by 12¾%, but for next year a recovery up to +7½% is foreseen.
  • The estimated average unemployment rate in 2010 is 6½%, well above the 2008 fi gure of 3.9%.
  • Infl ation is expected to drop to 1¼% this year and 1% next year. Contractual wage growth in the market sector will decline from 3% in 2009 to 1¼% on average in 2010.
  • The government budget deficit will be 4.6% GDP this year. The deficit increases to 5.8% GDP in 2010.

Read here the accompanying press release.

Economic growth in the Netherlands, 2007-2010

This chart depicts the growth of the Dutch economy in the Netherlands from 2008 to 2011.


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