We expect the Dutch economy to continue sliding further into recession, expecting a full-year of economic contraction in 2013 as a result of rising unemployment and falling property prices eating in to consumer spending. Therefore, we do not expect much dynamism in the country’s food and drink market, as consumers increasingly turn their attentions to discounted goods. Indeed, we believe that stubbornly high inflation, weak wage growth, rising unemployment and falling property prices will further erode consumer confidence. Headline Industry Data (local currency) ? 2013 per capita food consumption growth: +2.86%; forecast compound annual growth rate (CAGR) to 2017 = …
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