Macro - Country Economic Forecasts - Netherlands
The Dutch economy started 2022 a bit weaker than we expected, with GDP stagnating in Q1. As a result of this and the renewed supply-chain disruptions from the lockdowns in China, we have lowered our GDP growth forecast by 0.1ppt this year to 3.1%, but for 2023 we have raised it to 1.7% (from 1.6% last month). Inflation has continued to rise in line with our expectation, so we keep our forecast for this year unchanged at 8.5%. And we still expect inflation to drop sharply to 1.2% in 2023 as energy prices fall back and supply pressures ease.
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