Economic Update Dutch version
The impact of the corona crisis on the Dutch economy is becoming increasingly visible. Private consumption and daily manufacturing production fell sharply in May, and unemployment rose quickly in June. The outlook for the recovery remains bleak.
Economic Comment
The German economy shrank by a record breaking 10.1% in the second quarter, but still fared much better than European peers. We expect a technical recovery in the third quarter.
Economic Comment
As we expected, the Bank of Japan did not move during its last meeting and will likely remain in wait and see mode for a while. In the meantime, a second wave of coronavirus infections is hurting Japan’s economic recovery.