The Dutch central bank (DNB) expects lower growth for the Dutch economy. DNB expects a growth rate of 1.7% for 2019. In 2020 and 2021 the growth rate decreases to respectively 1.4% and 1.1%, while DNB predicted a growth rate of 1.5% and 1.4% for these years in a previous estimation. According to DNB this is caused mainly by the nitrous oxide emissions matter, which hinders construction projects. The growth rate is also affected by the decrease of gas production in Groningen and the tight labour market.
Market researcher Markit reported that economic activity in the Eurozone has decreased in December. The purchasing managers’ index (PMI), which reflects the activity in the sector, was 45.9 in
December, compared to the expected level of 47.3. A PMI below 50 expresses a reduction of economic activity.
Contrary to the Eurozone, the economic activity in the United States has increased in December according to preliminary figures from Markit. The PMI for factories in the United States was 52.5 in December, compared to the 52.6 in November. Economists expected a level of 52.6.
The 6M Euribor is unchanged at -0.34% compared to previous business day. The 10Y Swap increased with 2 basis points to 0.11% 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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