Dutch economy posts weak growth amid falling output prices
The Dutch economy showed marginal growth in the first quarter of 2025 (Q1 2025), with GDP increasing by just 0.1 per cent quarter-on-quarter (QoQ), primarily due to a smaller reduction in inventories and higher public spending, according to Statistics Netherlands (CBS).
The Dutch economy grew 0.1 per cent in Q1 2025, driven by smaller inventory reductions and higher public spending. Consumer confidence was flat, while producer sentiment worsened. Manufacturing output rose 1.3 per cent YoY in March but dipped 0.6 per cent from February. Export volumes grew 3.2 per cent YoY. Output prices fell 1.0 per cent YoY in April, led by a 29 per cent drop in crude oil prices.
The CBS Business Cycle Tracer painted a more negative picture in May compared to April, with 12 out of 13 indicators performing below their long-term trend. Consumer confidence remained unchanged while producer sentiment deteriorated further, both remaining below their 20-year average.
Manufacturing output in March rose 1.3 per cent year-on-year (YoY), marking the third consecutive monthly increase after a prolonged decline, although it fell 0.6 per cent compared to February, CBS said in a release.
Export volumes in March were 3.2 per cent higher YoY. Despite this, employment indicators were mixed, with unemployment stable at 387,000 in April, but total hours worked down 0.5 per cent in first quarter and vacancies falling by nearly 7,000 to 395,000.
Output prices for manufactured goods declined by 1.0 per cent YoY in April, influenced by a nearly 29 per cent drop in crude oil prices. Prices for petroleum products fell by 21.0 per cent, and chemical product prices dropped 3.8 per cent. Month-on-month, manufacturing output prices declined 0.7 per cent in April, with both export and domestic market prices down.
Fibre2Fashion News Desk (HU)
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