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Rabobank: Slowdown in global economy

Utrecht (The Netherlands) ‒ While global economic growth is slowing down this year, economic growth in the Netherlands is speeding up. Dutch GDP is expected to grow by 2 1/4% this year, and the growth rate will rise to 2 3/4% in 2016. Dutch exports and domestic demand are ensuring a broad base for this growth. This is the message from the Rabobank economists in their Quarterly Economic Report.

Global

The global economy is suffering in particular from disappointing growth in emerging markets. The slowdown in the growth of the global economy is largely due to decelerating growth in emerging markets, including China. Global growth is disappointing again this year, down to 3 1/4% from a growth rate of 3.4% in 2014.The growth of the global economy will remain moderate in 2016, at 3 1/2%. The principal causes are the slowdown in Chinese growth and low commodity prices.

Commodities

Herwin Loman, international economist at Rabobank: “The low commodity prices are actually bolstering growth in developed countries, which is helping to offset the effect of disappointing exports to emerging markets. But while the upturn in growth in the eurozone and other developed countries is good news for the global economy, it is not enough to prevent a slight slowdown in worldwide economic growth.”

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