STORY: Dutch economy deteriorates further in January
SHOOTING TIME: Feb. 1, 2024
DATELINE: Feb. 1, 2024
LENGTH: 00:00:39
LOCATION: THE HAGUE, the Netherlands
CATEGORY: ECONOMY

SHOTLIST:
1. various of street views in the Hague

STORYLINE:

The Dutch economy showed a downward trend in January, with 10 out of 13 indicators below their long-term trend, according to Statistics Netherlands (CBS) on Wednesday.

The CBS uses this method with 13 indicators, such as the gross domestic product (GDP) figures, unemployment rates, consumer confidence and the number of bankruptcies, to monitor the state and the cycle of the Dutch economy and get an overall coherent macroeconomic picture, based on all available data known to the CBS at the time.

One of the indicators is the GDP, which fell by 0.3 percent in the third quarter (Q3) of 2023 compared to the previous quarter, marking the third consecutive quarter with contraction.

"The contraction in Q3 can mainly be attributed to declining investments in fixed assets, a decline in inventory changes and a decrease in household consumption," the CBS stated.

According to the CBS, Dutch consumers were less negative in January 2024 than in the previous month. However, confidence was still far below the long-term average over the past two decades. Producers were also less negative than in December, with confidence remaining below the 20-year average as well.

In addition, there were 91 more bankruptcies in December 2023 than the previous month, marking a 30-percent increase. Also in December, 3.6 percent of the labor force were unemployed, similar to the 2023 average.

Xinhua News Agency correspondents reporting from The Hague, the Netherlands.
(XHTV)