The Dutch economy post lockdown – Revival in June, but no return to ‘normal

During the lockdown, some 20% of the Dutch economy came to a standstill. Economic activity rebounded after the reopening in June … but high-frequency data indicate that ongoing measures and negative sentiment continue to inhibit the revival. Total consumer spending in June was still 10% lower than last year. Dutch economy will not recover to year-end 2019 level until end of 2022.