The Dutch current account surplus decreased to its lowest level in four years. According to the Dutch Central Bank (DNB), the surplus decreased by 7.0% year-on-year in the second quarter of 2020, to an amount of EUR 12.9 billion. This equates to 6.6% of the gross domestic product (GDP). In 2018, the Netherlands achieved a record current account surplus of EUR 84 billion.
The International Labor Organization (ILO) publishes in a report that almost 500 million jobs worldwide were lost in the second quarter of 2020 as a result of the crisis, compared to the fourth quarter of 2019. This is a bigger loss than previously assumed. The situation in the second half of the year will be better than in the first half of 2020. The forecast is, in an average scenario, that there will be a loss of 245 million jobs in the fourth quarter. In the bleakest scenario, this will be 500 million jobs.
In September 2020, activity of the American manufacturing industry increased slightly more than a month earlier. Markit’s industry purchasing managers index in the United States was 53.5 this month, compared to 53.1 in August. A level of 50 or more indicates growth.
The 6M Euribor is unchanged at -0.47% compared to previous business day. The 10Y Swap increased with 1 basis point to -0.22% 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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