External broker reports(aggregated public sources), ABN AMRO

ABN AMRO

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External broker reports(aggregated public sources)

Macroeconomics

<ul><li>Q2 GDP came in at 0.1% q/q, roughly in line with our expectations (0.2% q/q), leading to small tweaks to our annual forecast of 1.5% in 2025 (from 1.6%) and 1.1% in 2026 (from 1.3%).</li><li>Tariffs will weigh on activity in the near term, directly and indirectly via main trading partners.</li><li>2026 growth benefits from rate cuts, solid demand and fiscal spending in main trading partner Germany. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Q2 GDP came in at 0.1% q/q, roughly in line with our expectations (0.2% q/q), leading to small tweaks to our annual forecast of 1.5% in 2025 (from 1.6%) and 1.1% in 2026 (from 1.3%).Tariffs will weigh on activity in the near term, directly and indirectly via main trading partners.2026 growth benefits from rate cuts, solid demand and fiscal spending in main trading partner Germany. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The Netherlands - Heading into budget and election season