In the third quarter of 2015, disposable income in the Netherlands has increased 1.5% compared to a year ago. Disposable income has increased for seven quarters in a row. According to Statistics Netherlands, the growth in disposable income is mainly the result of higher wages and lower unemployment. Furthermore the Dutch housing market is growing. In the third quarter of 2015, 30% more existing homes were sold than a year earlier while prices increased with 2.9%. The total amount of outstanding mortgage debt in the Netherlands has increased in the second and third quarter of 2015.
According to the Chinese National Bureau of Statistics (NBS), industrial profits in China fell 1.9% in the first eleven months of 2015 compared to a year earlier. In November 2015, industrial profits fell 1.4% compared to a year ago. This is an improvement compared to October, when industrial profits were 4.6% lower than a year ago.
Last week, the US Labor Department reported that the number of applications for unemployment benefits in the US decreased by 5,000 to 267,000 in the week ending on December 19th. The four-week moving average number of applications per week rose by 1,750 to 272,500. Applications have been below 300,000 per week for 42 consecutive weeks, which is associated with a healthy labor market.
The 6M Euribor remained unchanged at -0.04%. The 10Y Swap decreased by 1 basis point to 0.98%.
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