The economic picture is more negative this month than it was a month ago, reports the Central Bureau of Statistics (CBS). According to the government organization’s Business Cycle Tracer, our country is doing worse than it was a month ago. Yet BNR’s in-house economist, Han de Jong, doesn’t care.
The Business Cycle Tracer is a combination of thirteen important economic indicators that determine the course of the Dutch economy. This gives an idea of ​​how our country is doing in the macroeconomic field. However, we shouldn’t be blinded by this, says BNR in-house economist Han de Jong. “You have to put that into perspective a little bit. And don’t be too dark about the picture CBS paints here.’
Not bad
Although February’s score is lower than the previous month, seven of the thirteen indicators continue to outperform the long-term trend. ‘It’s actually not that bad at all. Yes, it was the third month in a row that the Business Cycle Tracer value decreased slightly. So it’s also slightly below the historical average, but it’s not much.”
So what got worse this month? ‘This is mainly due to exports. In the Statistics Netherlands figures, we have seen for months that world trade has declined slightly. We can also explain it, because it probably has to do with China. And if you look ahead, I assume it will be fine again, because China is open again,’ says De Jong.
“You shouldn’t be too gloomy for this picture CBS paints here”
Consumer confidence
Anyone who takes a look at the Business Cycle Tracer sees that consumer confidence is far below the long-term trend. ‘We also know that consumption will remain stable. In fact, it works quite well. I don’t want to explain it, but you have to put it into perspective a little bit.’
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.
