Outlook Netherlands 2020

Abn Amro
By December 12, 2019 16:05

Outlook Netherlands 2020

Economic growth set to slow further: from 1.7% in 2019 to just under 1% in 2020 The Dutch economy managed to continue growing at a stable pace in the first three quarters of 2019. Gross domestic product (GDP) achieved growth of 0.4% compared to the previous quarter (qoq). We, however, expect growth to move down a gear. Exports are sagging as world trade weakens, while investment responds with a time lag to business confidence which has been sinking for some time. An added problem is the nitrogen crisis, which will put an extra damper on economic growth. Investment, in particular, will suffer. The stronger-than-expected third quarter figure will have a positive effect on growth, both in 2019 and 2020. In this light, we have upped our GDP forecast for 2019 to 1.7%. However, the forecast for 2020 was not raised as the nitrogen crisis will depress growth. GDP expansion will probably undershoot 1% in that year.

Abn Amro
By December 12, 2019 16:05

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