Regardless of what hour of the day, this year, it has a positive effect on the economy by 0.2 to 0.3 percentage points. But that’s not to say that we are all the richer for the extra day, argues chief economist Peter Hein van Mulligen of the Dutch Central Bureau for Statistics (CBS). In fact, the extra day, and the associated economic growth, a purely statistical exercise.
“Normally), counts for the first quarter of the ninety days, and in leap-year, it has 91 days. With the growth of the economy, if we compare quarter by quarter, and compare to now a day not a day,” says Van Mulligen. That is, one extra day is the total economic output for the year will be a bit higher.
CBS is looking for the added value of what is produced minus what is consumed. “Companies are gaining more revenue, but they also cost more. Below the line, the result will be positive.” For insurance companies the day is just another day of damage being caused.
“Just look to the non-life insurance, we look forward to 24.5 million euros in damage,” says Oscar van Elferen, on behalf of the Dutch association of Insurers. Cars with close to 11 million for the largest schadepost, one day, to be followed by the building and real estate, with more than 7 million, respectively.
