Figures published by the German research institute Ifo show that the business climate index in Germany fell from 96.0 in February to 87.7 in March. This is the strongest decline since 1991, bringing the index to its lowest level since the summer of 2009. Normally, Ifo publishes this figure later in the month. A score of 100 is considered neutral, no improvement or deterioration.
Unemployment in the Netherlands fell to 2.9% in February, from 3.0% in January. This follows from figures published by Statistics Netherlands on Thursday. The fall in the unemployment rate is the result of an increasing number of people withdrawing from the labour market, not an increase in the number of jobs. It is the first time since the beginning of the current series of monthly unemployment figures in 2003 that the unemployment rate is less than 3.0%.
Statistics Netherlands also reports that Dutch consumers spent 1.0% more in January 2020 compared to January 2019. In December 2019, the growth in household consumption was 2.9% compared to a year earlier. Statistics Netherlands expects less favourable conditions for consumption by Dutch households as a result of the corona virus in March.
The 6M Euribor increased with 1 basis point to -0.36% compared to previous business day. The 10Y Swap increased with 4 basis points to 0.16% compared to previous business day.
In the attachment, today’s market data on money and capital market rates as well as other rates are presented.
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