The economic outlook according to the CBS Conjuncture Clock was less negative in November than in October, with improvements in several economic indicators.
The economic outlook according to the Economic Clock of Statistics Netherlands (CBS) was less negative in November than in October. In the October Economic Clock, 10 of the 13 indicators performed worse than their long-term trend.
The Economic Clock is a tool to determine the status and development of the Dutch economy. The Economic Clock brings together virtually all important economic information published by CBS during the past month or quarter. The economic outlook according to the Economic Clock is a macroeconomic picture and does not apply equally to all households, businesses, or regions.
Consumers less negative, producers more negative
Consumers were less negative in November than in October, while producers were more negative. Both consumer and producer confidence were below the average of the past twenty years, with consumer confidence being lower.
Producer confidence
average of the sub-questions
Household consumption, exports and investments grow
In September 2025, households consumed 0.8 percent more than in September 2024 (corrected for price changes and shopping days). They mainly bought more services.
The volume (working day corrected) of goods exports was 2.6 percent higher in September than in September 2024. Companies mainly exported more machinery, transport equipment, and raw materials.
In September 2025, the volume of investments in tangible fixed assets was 2.7 percent higher than a year earlier. More was invested mainly in aircraft, buildings, machinery (including defense equipment), and infrastructure.
Industrial production over 2 percent higher in September
The calendar-adjusted production of the Dutch industry was 2.1 percent higher in September than in September 2024. Corrected for seasonal and calendar effects, production in September rose by 0.1 percent compared to August.
Fewer bankruptcies in October
In October, 23 fewer companies (including sole proprietorships) were declared bankrupt than in September, corrected for court days. This is a decrease of 8 percent.
House prices nearly 7 percent higher in October
In October 2025, prices of existing owner-occupied homes were on average 6.6 percent higher than a year earlier. Compared to September 2025, prices rose on average by 0.5 percent.
More hours worked, more unemployed, fewer vacancies
In October 2025, there were 411 thousand unemployed. As in September, 4.0 percent of the labor force aged 15 to 75 was unemployed. The number of unemployed increased by an average of 8 thousand per month over the past three months.
Employees and self-employed worked a total of over 3.7 billion hours in the third quarter. Corrected for seasonal influences, this is 0.2 percent more than in the previous quarter.
At the end of the third quarter, 387 thousand vacancies were open, a decrease of 2 thousand. The number of vacancies has been declining almost every quarter for three years.
The turnover of employment agencies and labor mediation was 0.3 percent lower in the second quarter of this year than in the same quarter of 2024.
GDP rises 0.4 percent in third quarter 2025
According to the first estimate by CBS, gross domestic product (GDP) rose by 0.4 percent in the third quarter of 2025 compared to the second quarter. The increase in GDP in the third quarter of 2025 is mainly due to exports and government consumption.
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