Offsetting CO2-emissions through voluntary carbon credits plays a role in the transition to a zero-carbon economy. Although the market is small and oversupplied, things are changing. Demand from non-regulated sectors like aviation is driving market growth.
Economic Quarterly Report
We expect that recovery could start earlier in the Netherlands than in other countries, but the pace of vaccination rollout is just one of the uncertainties to be faced.
Dutch Housing Market Quarterly Dutch version
The shortage of homes will continue to impact the Dutch housing market in 2021 and 2022. For 2021 we forecast a substantial rise in house prices but expect sales to slow.
The relationship between the EU and the US appears to be improving under the Biden administration, but several potential conflicts remain, such as the taxation of big tech and fossil energy, and tariffs on steel and aluminum.
Italy’s government headed by Mario Draghi faces a major task and serious challenges. Nevertheless, we argue that Draghi’s arrival has brightened Italy’s future. The economy should reach its pre-crisis level mid-2023, helped by the EU Recovery fund.
After a harsh start of the year, the Eurozone economic outlook should start to improve from next quarter. With help of the EU recovery fund, the economy will hit its pre-pandemic level mid-2022. Yet only if the vaccination campaign gains ample speed.
Markets have been in the grips of ‘reflation’. Unless wage inflation picks up or governments stimulate beyond covid-19, the current upward forces on inflation will prove transient. Therefore, the ECB is expected to look through this rise in inflation.
We expect all ASEAN economies to grow this year, although at different speeds. The current high number of new Covid-19 cases underlines that the virus will continue to challenge economic recovery throughout 2021.
The Dutch economy suffered an exceptional contraction of 3.8% in 2020, which amounts to the largest decline since WW2. The stringent lockdown caused household consumption to fall sharply and hurts the retail sector. Increased investments and industrial production, however, soften the blow.