Market Information Thursday 1 October 2020

The selling prices of the Dutch industry were on average 4.3% lower in August 2020 than in August 2019, according to figures published by Statistics Netherlands (CBS). The prices in the industry are strongly related to the price development of crude oil. Crude oil prices were approximately 26.8% lower in August 2020 than in August 2019. Compared to July 2020, the output prices of the industry decreased by 0.1% in August 2020.

The United States economy contracted less than expected in the second quarter of 2020, as reported by the US government based on their third estimate. The downturn in the second quarter is estimated at 31.4%. This is the largest fall in the gross domestic product (GDP) of the world’s largest economy since measurements began.

Dutch household spending rose significantly in the third quarter of 2020 compared to the second quarter. Despite this increase, consumption is still much lower than before the corona crisis. As unemployment is expected to increase this autumn, ING economists expect that the recovery in consumption in the fourth quarter will come under pressure. ING based this on pin payments, business confidence and retailers’ sales figures.

The 6M Euribor is unchanged at -0.47% compared to previous business day. The 10Y Swap increased with 2 basis points to -0.23% 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.