Dutch economic growth will slow to 1.3% next year, forecasting agency says
Economic growth is slowing down in the Netherlands due to the decline in global growth and, to a lesser extent, the issues around nitrogen compound and PFAS pollution, the government’s macro-economic think-tank CPB said on Wednesday.
The CPB expects the economy to grow by 1.3% next year, after a growth rate of 1.7% in 2019.
‘Although the economy is slowing down, the Netherlands is still doing well compared to the eurozone,’ CPB director Laura van Geest said in a statement. ‘The issues around nitrogen and PFASs will not be without consequences for the affected sectors, but, for the Netherlands as a whole, the short-term effect will be only limited.’
Unemployment reached its lowest point of 3.4% in 2019, but will also remain exceptionally low in 2020, creeping up slightly to around 3.6%, the CPB said.
Inflation will slow down next year, as the impact of last year’s increase in indirect taxes fades away, the CPB said. On average, the agency expects purchasing power will increase by 2.1% in 2020.
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