Dutch private sector investments pick up
The slumping Dutch private sector investments have picked up according to Statistics Netherlands.
In June 2012, the volume of private sector investments in tangible fixed assets was more than 3 percent up from June 2011. In May, private sector investments were 6 percent down from one year previously. The volume of private sector investments in June was, however, still nearly 18 percent below the level of June 2008.
The change from decline to growth in June was mainly due to a substantial increase in investments in means of transport. In June, investments in cars were considerably up from one year previously. This is partly due to a change in tax legislation. The limits for CO2 emission, which apply for the tax on passenger cars and motorcycles (bpm) and the additional tax liability for company-owned cars have become stricter since 1 July. Many companies anticipated this change and decided to purchase a car before 1 July. The decline in investments in the construction sector was less substantial in June than in May.
Figures on private sector investment are not adjusted for the effects of the number of working days. June 2012 had one working day more than June 2011, but May 2012 had one working day less than May 2011.
More at The Dutch Daily News