Economic situation deteriorates marginally

The economic situation at the end of February was slightly more unfavourable than at the end of January. Deteriorations outnumbered improvements. The heart of the scatter in the Business Cycle Tracer is located deep in the recession stage. All but one indicators are currently below their long-term average.

The Dutch economy shrank by 0.9 percent in the fourth quarter of 2012 compared to the same period one year previously. Taking calendar and seasonal effects into account, the economy contracted by 0.2 percent in the fourth quarter compared to the preceding quarter.

Dutch consumer confidence reached a historically low level in February. The mood among manufacturers improved, on the other hand.

The capital market interest rate climbed to 1.7 percent in January. The inflation rate was 3.0 percent. Prices of existing owner-occupied dwellings were on average 9.6 percent down from January 2012. Selling prices of manufactured products were 2.8 percent higher in December 2012 than in December 2011.

Seasonally adjusted unemployment increased further in January and stood at 592 thousand. In the fourth quarter of 2012, the number of jobs fell and the number of job vacancies declined. The amount of hours worked in temp jobs was also lower than in the preceding quarter.

Gross domestic product (GDP)