Preliminary table Main Economic Indicators 2011-2014 (August 2013)

These projections not yet include possible additional spending cuts by the Cabinet. Without implementation of these possible additional spending cuts, CPB projects gross domestic product (GDP) to decrease in 2013 by 1¼% and to increase by ¾% in 2014. Unemployment in 2013 is expected to rise by 150,000 people to 620,000, and in 2014 this will be up to 670,000. The budget deficit in 2013 is 3.0 %, and in 2014 this will be 3.9%.

Main economic indicators 2011–2014

According to these intermediate projections, the development of the Dutch economy is less favourable than in last June’s projections. With a 1¼% decrease, GDP volume will shrink in 2013 by a quarter per cent more than projected earlier. Economic growth (GDP growth) for 2014 has been adjusted downward by ¼% to ¾%. Unemployment for 2014, is projected to increase by 35,000, which is mainly due to Statistics Netherlands'  downward adjustment of GDP growth in the first quarter of 2013 and the projected, slower growth in world trade for 2013 and 2014. A weaker development in real wages will contribute to less growth in private consumption in 2014. These CPB projections include the National Accounts 2012 and the preliminary GDP data by CBS on the second quarter of 2013.

The current projections present a budget deficit for 2013 of 3.0% against 3.5% in those of last June. For 2014, this is 3.9 against 3.7 in June’s projections.

CPB, at this time, does not provide any further elaboration of these intermediate projections. On Prinsjesdag – the opening day of Parliament; this year on 17 September – CPB will publish its Macro Economic Outlook (MEV) 2014, with an elaboration and explanation of these projections as well as a detailed analysis of the Dutch economic situation.