The International Monetary Fund (IMF) lowered its growth forecast for the Dutch economy to 1.6% in 2020. In the previous estimate in April, the IMF expected growth of 1.7% in 2020. According to the IMF, the trade war is increasingly taking its toll. However, the IMF is even more positive than the Netherlands Bureau for Economic Policy Analysis (CPB), which predicts 1.5% growth in 2020.
According to the car industry association ACEA, sales of new cars in the European Union increased in September 2019, by 14.5% to almost 1.25 million cars per year. In the Netherlands, sales of new cars increased by 30% in September to 38,122 units a year. In Great Britain a modest increase in sales was reported, partly due to the uncertainty surrounding the brexit.
Statistics Netherlands (CBS) reported that retailers increased their sales by 3% on an annual basis in August. In addition, sales volume was 0.8% higher. In addition, online sales were nearly 14% higher.
The 6M Euribor increased with 1 basis point to -0.35% compared to previous business day. The 10Y Swap increased with 4 basis points to 0.00% 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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