Dutch consumers slightly more negative in Jun, producers a bit less

The tracer provides an overall macroeconomic picture of the past month or quarter, based on all the figures published by CBS.

Dutch consumers were slightly more negative in June than in the previous month, but producers were slightly less negative. However, confidence remained below the long-term average for the past two decades.

According to the CBS second estimate, gross domestic product (GDP) decreased by 0.5 per cent in the first quarter (Q1) this year relative to Q4 2023. The contraction in Q1 was mainly due to goods exports. The decline in goods exports is related to the contraction in the manufacturing sector.

Households spent 0.6 per cent more year on year (YoY) in April 2024, adjusted for price changes and shopping-day pattern. Spending was higher on both goods and services.

In April this year, the total volume of goods exported (adjusted for the number of working days) was up by 2.3 per cent YoY. That was the first increase in exports in almost a year.

In April, the calendar-adjusted output of Dutch manufacturing was 3.5 per cent lower YoY. Output also contracted YoY in the preceding nine months. After adjusting for seasonal and calendar effects, manufacturing output rose by 0.4 per cent month on month (MoM) in April.

In Q1 2024, the number of unemployed persons in the Netherlands declined by an average of 4,000 per month. In May, there were 367,000 unemployed people, equivalent to 3.6 per cent of the labour force. In April it was 3.7 per cent.

After six quarters of decline, the number of vacancies increased slightly in Q1 2024. At the end of Q1, there were 411 thousand vacancies, almost 1 thousand more than at the end of December.

In Q1 2024, the turnover of temporary employment and job placement agencies was 2.9 per cent higher YoY, a CBS release said.

Fibre2Fashion News Desk (DS)