Netherlands' economic climate dips in April 2023: CBS

04 May '23

1 min read

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Insights

The economic climate in the Netherlands was more negative in April 2023 compared to March.
Despite 7 out of 13 indicators performing above their long-term trend, consumer confidence remained low and well below the two-decade-long average.
Goods exports increased by 5.8 per cent YoY in February 2023, led by exports of petroleum products and machinery.

The economic climate in the Netherlands was more negative in April 2023 than it was in March. Statistics Netherlands (CBS) reported that 7 out of the 13 indicators in the Business Cycle Tracer were performing above their long-term trend in April.

Consumers were again less gloomy in April than they were in the previous month. However, confidence was still low and well below the long-term average over the past two decades. Producer confidence deteriorated in April, but was above its long-term average, CBS said in a press release.

In February 2023, the total volume of goods exports (working-day adjusted) was up by 5.8 per cent year-on-year (YoY). The increase was mainly seen in exports of petroleum products, machinery and appliances, and transport equipment.

In February 2023, the average daily output of the Dutch manufacturing industry was 2.0 per cent lower than in February 2022. In January, it contracted by 2.3 per cent.

Moreover, gross domestic product (GDP) increased by 0.6 per cent in the fourth quarter (Q4) of 2022 relative to the previous quarter. Growth in Q4 was broad-based, with household consumption and public consumption making the largest contributions.

Fibre2Fashion News Desk (NB)

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