The Netherlands MarketBeat

While the pandemic seemed to be slowing down and the pre corona ‘Old Normal’ was quickly restored, the world has been rocked by a new crisis as from mid-February 2022. The Russian Federation's invasion of Ukraine is currently exacerbating the pre-existing uncertainties regarding the security of supply of energy, raw materials and food stuffs, with potentially major consequences for the economy and, in particular, the purchasing power of consumers. A high uncertainty factor is the duration of the conflict.  

While the main impacts are now mainly felt through higher energy prices, a longer duration means an ever-increasing impact on other products and services, ultimately allowing prices to rise across the board. Although the purchasing power of Dutch consumers is set to dwindle in 2022 by -2.7%, the signals regarding economic growth, however, remain green for the time being. High economic growth (3.6%) and high inflation (5.2%) combined with historically low unemployment figures (3.8%) are to blame for this. 

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