Economic Update Dutch version
Dutch GDP growth is expected to slow down in 2019, while house prices will likely keep rising. Confidence amongst consumers and producers is waning.
On 27 February a parliamentary vote on the course of Brexit took the threat of a hard (no-deal) Brexit on 29 March off the table. The next milestone is a series of three cascaded votes mid March.
After being suspended for about a year, the debt limit returned on March 2. However, the Treasury Department will take extraordinary measures that could delay a federal government default to September or October.
Special Dutch version
Italy’s slipped into a recession. A quick rebound is not to be expected. New budgetary issues are likely to raise concerns on the market later this year. Growth is forecasted to be flat in 2019. The probability of a coalition break-up is low, but looks set to increase after European elections.
The elections for European Parliament in May will result in a significant increase in support Eurosceptic parties. This will make the new European Parliament less supportive towards further European integration.
Dutch Housing Market Quarterly Dutch version
In 2018, prices of owner-occupied homes in the Netherlands rose on average 9%, which translates to roughly 25,000 euros for an average house. For 2019 we expect homes to become even more expensive, however we expect sales to decline further.
On 14 February another British Parliament vote on Brexit passed by without any change of course. PM May might take Brexit to the wire in order to prevent a large rupture of the Conservative Party and maintain pressure on various decision makers. 27 February looks like the next milestone.