Market Information Monday 17 August 2020

The Dutch economy was hit hard by the corona crisis in the second quarter of 2020. Based on initial calculations by Statistics Netherlands (CBS) announced on Friday, gross domestic product declined by 8.5 % compared to the first quarter. The largest decline measured, according to the statistics office. More than half of the decline can be attributed to the sharp decrease in household consumption. Furthermore, investments and imports and exports also declined sharply.

Eurostat reports that in the second quarter of 2020 employment in the eurozone has undergone the largest decline measured since the European statistics office started in 1995. The number of jobs in the euro area decreased by 2.8 % due to the corona crisis compared to the first quarter of 2020. Employment decreased by 0.2 % in the first quarter. For the European Union as a whole, employment fell by 2.6 percent compared to a 0.1 % decrease in the first quarter.

Industrial production in the United States increased with 3 % in July from the previous month, according to the Federal Reserve. The increase continued the upward trend of a month earlier when production increased by 5.7 % in June, according to adjusted figures. The US manufacturing utilization rate was 70.6 % in July, up from a revised 68.5 % in June.

The 6M Euribor is unchanged at -0.43% compared to previous business day. The 10Y Swap decreased with 1 basis point 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.