Economic growth in the Netherlands is largely due to increased consumer spending. According to Marco Groot of the consulting firm Eight Days A Week, low government spending also plays a role in CBS’s positive numbers.
According to Groot, the government is a little behind in the process. “If economic growth in the fourth quarter is 0.6, while consumer spending is up 0.9% and exports are around that average, then something is lagging, and that’s government spending.”
However, that government has regularly stated that it lacks the people for the ambitions and big plans they have in mind. Groot sees it too. Even CBS praises him. The job market in the Netherlands is very strong,’ he says. “There are currently 123 vacancies for every 100 job seekers, up from 120 vacancies in the previous quarter. So we still need a lot of people.’
Not a hand on the purse strings
However, people are willing to spend or invest money. ‘There is more employment, people are earning more and at the same time they have a very good stash that they dare to spend. On balance, this equates to economic growth,’ concludes Groot.
Source: BNR
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
