Economic situation virtually unchanged

The economic situation at the end of May was at approximately the same low level as at the end of April. Improvements and deteriorations balanced each other out. The heart of the scatter in the Business Cycle Tracer is still located in the recession stage. All indicators are currently below their long-term average.

The Dutch economy shrank by 1.7 percent in the first quarter of 2013 compared to the same period one year previously. Taking calendar and seasonal effects into account, the economy contracted by 0.1 percent in the first quarter compared to the fourth quarter of 2012.

Dutch consumer confidence improved for the third consecutive month in May. Manufacturers were less negative in May than in April.

The capital market interest rate was 1.7 percent in April, just as in March. The inflation rate was 2.6 percent in April. Prices of existing owner-occupied dwellings were on average 7.6 percent down from April 2012. Selling prices of manufactured products were 2.2 percent down in April from one year previously.

Seasonally adjusted unemployment increased further in April and stood at 650 thousand. In the first quarter of 2013, the number of jobs and the number of job vacancies fell. The amount of hours worked in temp jobs was also lower than in the preceding quarter.

Gross domestic product (GDP)