The economic outlook according to the Conjuncture Clock of Statistics Netherlands (CBS) was slightly more negative in January than in December. In the January Conjuncture Clock, 9 of the 13 indicators performed worse than their long-term trend.
The Conjuncture Clock is a tool for determining the state and development of the Dutch economy. The Conjuncture Clock brings together almost all important economic information that CBS has published during the past month or quarter. The economic outlook according to the Conjuncture Clock is a macroeconomic picture and does not apply equally to all households, companies, or regions.
Consumers more negative, producers more positive
Consumers were more negative in January than in December, while producers were more positive. Producers being positive was the first time in almost 3 years. Producer confidence was above the average of the past twenty years, while consumer confidence was below it.
Producer confidence
average of the sub-questions
Household consumption and exports grow, investments shrink
In November 2025, households consumed 0.5 percent more than in November 2024 (corrected for price changes and shopping days). They mainly bought more services.
The volume (working day corrected) of goods exports was 4.7 percent larger in November than in November 2024. Companies mainly exported more transport equipment and machines.
In November 2025, the volume of investments in tangible fixed assets was 4.1 percent smaller than a year earlier. There was especially less investment in other road transport (trucks, trailers, vans, etc.) and buildings.
Industrial production nearly 1 percent higher in November
The calendar-adjusted production of the Dutch industry was 0.7 percent higher in November than in November 2024. Corrected for seasonal and calendar effects, production in November decreased by 0.5 percent compared to October.
Fewer bankruptcies in December
In December, 42 fewer companies (including sole proprietorships) were declared bankrupt than in November, corrected for sitting days. This is a decrease of 14 percent.
House prices nearly 6 percent higher in December
In December 2025, prices of existing owner-occupied homes were on average 5.8 percent higher than a year earlier. For the ninth month in a row, the price increase is leveling off. Compared to November 2025, prices decreased on average by 0.9 percent.
Fewer hours worked, fewer vacancies, relatively the same number of unemployed
In December 2025, there were 410 thousand unemployed. As in the previous three months, 4.0 percent of the labor force aged 15 to 75 was unemployed. The number of unemployed remained stable on average over the past three months.
Employees and self-employed worked a total of over 3.7 billion hours in the fourth quarter. This is, corrected for seasonal influences, 0.3 percent less than in the previous quarter.
At the end of the fourth quarter, there were 380 thousand vacancies open, a decrease of 7 thousand. The number of vacancies has been decreasing almost every quarter for three years.
The turnover of employment agencies and labor mediation was 0.9 percent higher in the third quarter of this year than in the same quarter of 2024.
GDP rises 0.5 percent in fourth quarter 2025
According to the first calculation by CBS, gross domestic product (GDP) rose by 0.5 percent in the fourth quarter of 2025 compared to the third quarter. The GDP increase is mainly due to exports and government consumption.
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