Industrial production in The Netherlands showed further recovery in January 2021 after the impact of the corona crisis. According to Statistics Netherlands (CBS), industrial production is now also showing an increase on an annual basis. Average daily production in January 2021 was 0.6% higher, compared to January 2020. The last time that industrial production increased on an annual basis was in January 2020.
Rabobank economists remain positive about the rapid recovery of the Dutch economy after the corona crisis. They forecast that the economy will grow by 2.1% this year. In 2022, the economy is expected to show a growth of 3.7%, the pace of vaccination will determine the growth rate . The assumption made here is that the economy will be fully open again at the beginning of the fourth quarter.
Large multinationals are increasingly focusing their objectives on reducing their CO2 emissions. This is expected to result in an explosive growth in the demand for so-called carbon allowances. The data and consultancy firm, Trove Research, expects the carbon allowances market to grow twenty-fold over the next decade to EUR 10 billion to EUR 25 billion per year. However, this raises concerns about the quality of these rights. Research by Trove Research has shown that there is a large surplus of these rights, and when these rights end up on the market, companies can polish their image very cheaply. The so-called greenwashing.
The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap decreased with 2 basis points to 0.01% 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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