The EU Commission published the next step in the E.U. Taxonomy in June 2020. It includes a proposal to make all large companies and listed SMEs disclose their alignment with the Taxonomy. This report provides an update on the latest developments.
Economic Comment Dutch version
Hard economic data usually comes available at quite some lag. To gauge the economic impact of COVID-19 we look at more timely economic indicators that are readily available. Data on traffic jams, international flights, and restaurant bookings are released sooner and more frequently. This helps us to better monitor the economic situation during the COVID-19 crisis.
Economic Quarterly Report Dutch version
We have upwardly revised our outlook for the Dutch economy and expect 3.8 percent growth this and 3.7 percent next year. GDP is expected to return to pre-coronavirus levels in the third quarter of this year – faster than in other European countries.
Government support and a drop in the labor force curtailed the increase in Eurozone unemployment. Going forward, specific industries may struggle to find adequately skilled staff, but we don’t foresee general labor shortages.
Dutch Housing Market Quarterly Dutch version
We expect prices on the Dutch housing market to rise on average 10.9 percent in 2021, as the outlook for the economy has improved and because lending criteria have relaxed and the stamp duty for younger buyers has been (partially) cut.
Italy started the year on a weak footing, but the outlook has been brightening over the past weeks. The economy is opening up and activity has been rapidly gaining speed. We forecast the economy to be back at its pre-COVID level in 2023Q1.
The recent Australian federal budget represents a shift in budget strategy away from budget prudence towards higher spending. The combination of loose fiscal and monetary stimulus increases inflation expectations. However, the RBA doesn’t expect a rate hike before 2024 due to spare capacity in the economy.