Fuel shock reopens margin risk Paolo Maria Pavan What is the situation? Dutch inflation rose to 2.7% in March 2026, up from 2.4% in February. The sharpest pressure came from fuel. Motor fuel prices increased 18.7% year on year, and diesel jumped 25%... Paolo Maria Pavan TODAY'S MARKET PULSE Apr 10, 2026
Housing costs are becoming a wage issue Paolo Maria Pavan What is the situation? Dutch house prices rose 6.2% year-on-year in Q4 2025. Existing homes averaged €486,000; new builds, €520,000. This marks eight straight quarters of growth. The signal is not onl... Paolo Maria Pavan TODAY'S MARKET PULSE Apr 9, 2026
Dutch trade shifts from fuel to chips Paolo Maria Pavan What is the situation? CBS preliminary 2025 data: exports €655bn, imports €582bn, both up 1.4%. Volume stable, but export mix shifted sharply. Export growth came mainly from re-exports, which contribu... Paolo Maria Pavan TODAY'S MARKET PULSE Apr 8, 2026
Wage pressure slows, margins still tighten Paolo Maria Pavan What is the situation? Dutch CAO wages rose 4.5% year-on-year in Q1 2026, down from 5.4% a year earlier and below the 6.8% peak in Q3 2024. But the slowdown should not be mistaken for relief. Real wag... Paolo Maria Pavan TODAY'S MARKET PULSE Apr 6, 2026
Land costs are repricing faster Paolo Maria Pavan What is the situation? Dutch new-build plot prices rose 13.6% in 2025, and 15.3% year on year in Q4 2025. This was the fourth straight quarter of faster growth. Average plot prices now range widely by... Paolo Maria Pavan TODAY'S MARKET PULSE Apr 5, 2026
Dutch e-commerce margin squeeze deepens Paolo Maria Pavan What is the situation? Dutch e-commerce spending fell 1% to €35.7 billion in 2025, while transaction volume stayed flat at 347 million purchases. Cross-border orders rose 9% to 44.8 million, and Chine... Paolo Maria Pavan TODAY'S MARKET PULSE Apr 4, 2026
Retail growth, but not real demand Paolo Maria Pavan What is the situation? Dutch retail turnover rose 1.3% in February 2026, but sales volume rose only 0.6%. That means part of the growth came from price, not from more units sold. Online turnover incre... Paolo Maria Pavan TODAY'S MARKET PULSE Apr 3, 2026
Dutch economy softens further in March Paolo Maria Pavan What is the situation? CBS says the March 2026 business-cycle picture weakened further. Nine of thirteen indicators were below their long-term trend. Consumer confidence fell to -30 from -24 in Februa... Paolo Maria Pavan TODAY'S MARKET PULSE Apr 2, 2026
Dutch slowdown sharpens cash discipline Paolo Maria Pavan What is the situation? The Dutch short-cycle picture worsened in March 2026. CBS shows consumer confidence fell to -30 from -24, the economic climate component dropped to -54 from -42, and the Busines... Paolo Maria Pavan TODAY'S MARKET PULSE Apr 2, 2026
Inflation back up, pressure back on Paolo Maria Pavan What is the situation? Dutch inflation rose to 2.7% in March 2026, up from 2.4% in February. The main signal is not broad overheating. It is a renewed cost shock in the parts of the economy that small... Paolo Maria Pavan TODAY'S MARKET PULSE Apr 1, 2026
Dutch factory prices fall, but not evenly Paolo Maria Pavan What is the situation? Dutch manufacturing output prices were 2.3% lower year-on-year in February 2026 and 0.3% higher than in January. The main downward pressure came from oil-linked sectors. CBS sho... Paolo Maria Pavan TODAY'S MARKET PULSE Mar 31, 2026
Dutch deficit rises, founder costs follow Paolo Maria Pavan What is the situation? The Dutch government ran a €19 billion deficit in 2025, equal to 1.6% of GDP, up from 0.7% in 2024. Government spending reached €529 billion, revenue €510 billion, and public de... Paolo Maria Pavan TODAY'S MARKET PULSE Mar 30, 2026
