2012-11-14 20:54:55 - Netherlands Business Forecast Report Q3 2012 - a new country guide report on companiesandmarkets.com
The Dutch economy is set to seriously deteriorate in the coming quarters as the eurozone sovereign debt crisis massively weighs on economic activity and confidence levels. While immigration and community cohesion remain controversial issues in Dutch politics, the economy will remain centre stage in 2012. Following parliamentary elections in September, a deteriorating economic outlook will keep the pressure on the next government, especially as the proposed EUR18bn in public savings starts to put pressure on the unemployment rate.
Major Forecast Changes
As the Netherlands has headed deeper into recession, we have revised our 2012 real GDP growth forecast to -0.6%, from a previous forecast of -0.3%. The eurozone sovereign debt crisis is set to weigh on external demand, while the government´s
commitment to fiscal austerity will further weigh on weak domestic demand. We forecast very tepid growth of 0.6% in 2013, and expect a low longer-term growth trajectory.
Risks To Outlook
Should the eurozone sovereign debt crisis take a turn for the worse in the coming months, we would expect a more pronounced contraction than currently expected to drag on the Netherlands´ economic growth outlook.
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