The Business Cycle Tracer is a tool for determining the state and development of the Dutch business cycle. The Business Cycle Tracer consolidates almost all significant economic information published by CBS in the past month or quarter. The economic outlook according to the Business Cycle Tracer represents a macroeconomic view and does not equally apply to all households, companies, or regions.

Consumers and Producers More Negative

Consumers were again more negative in March than a month earlier. Producers were also more negative than in March. Both consumer and producer confidence were below the average of the past twenty years.

Export and Household Consumption Grow, Investments Shrink

The volume (working day adjusted) of goods exports was 5.1 percent higher in January than in January 2024. This is mainly due to higher exports of machinery, chemical and pharmaceutical products, food and beverages, and electrical appliances.

In January 2025, households consumed 1.2 percent more than in January 2025 (adjusted for price changes and shopping days). They bought more goods and services.

In January 2025, the volume of investments in tangible fixed assets was 0.4 percent smaller than a year earlier. There was mainly less investment in machinery (including defense equipment) and other road transport (trucks, trailers, vans, etc.). However, more was invested in buildings and infrastructure in January 2025 than a year earlier.

Industrial Production 0.5 Percent Higher in January

The calendar-adjusted production of Dutch industry was 0.5 percent higher in January than a year earlier. This is the first production increase in over a year and a half. Adjusted for seasonal and calendar effects, production rose by 1.0 percent in January compared to December.

More Bankruptcies in February

In February, 45 more companies were declared bankrupt, adjusted for court days, than in January. This is an increase of 14 percent. However, the number of bankruptcies has not increased further since 2023.

House Prices 10.6 Percent Higher in February

In February 2025, existing house prices were on average 10.6 percent higher than in February 2024. Compared to January 2025, prices remained almost unchanged in February.

Same Hours Worked, More Vacancies, More Unemployed

Employees and self-employed persons worked a total of over 3.7 billion hours in the fourth quarter. This is, seasonally adjusted, the same as the previous quarter.

The number of job vacancies increased by 7 thousand in the fourth quarter to almost 404 thousand.

In February 2025, the number of unemployed rose to 392 thousand. Over the past three months, an average of 7 thousand unemployed were added per month. This brought the unemployment rate in February to 3.8.

The turnover of employment agencies and labor mediation was 0.8 percent higher in the fourth quarter of last year than in the same quarter of 2023.

GDP Rises 0.4 Percent in Fourth Quarter 2024

According to the second calculation by CBS, the gross domestic product (GDP) grew by 0.4 percent in the fourth quarter of 2024 compared to the third quarter of 2024. The increase in GDP in the fourth quarter is mainly due to the trade balance and investments. Consumption also contributed positively.