The risk of a slowdown in the eurozone economic recovery increased as the corona crisis continues with new variants of the virus. Nevertheless, the finance ministers of the 19 eurozone countries (Eurogroup) agree that supportive fiscal policies for citizens and businesses remain necessary. The ministers discussed the recovery plans which they will submit to Brussels in the second half of February. In three months’ time, approvals are scheduled in order to allocate funds from the EUR 672.5 billion recovery fund.
Dutch exports continue to be hampered by the Corona crisis and lockdown. According to the monthly Corona Monitor by entrepreneurial association evofenedex and credit insurer Atradius, 52% of exporting companies were affected by the crisis in December. 13% of the companies were able to achieve growth. Compared to December 2019, turnover decreased with 21%.
Sales of new passenger cars in the European Union decreased by almost a quarter last year due to the corona crisis. According to the European industry association ACEA, sales decreased again in December, the decrease was lower than in the previous months. In December 2020, sales decrease with 3% than in the same month last year. During 2020, over 9.9 million cars were registered. In 2019, 13 million vehicles were registered.
The 6M Euribor is unchanged at -0.53% compared to previous business day. The 10Y Swap increased with 1 basis point 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.
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