•  Second, there is a risk on the upside that, as confidence returns, domestic momentum builds faster than expected. Once the recovery in foreign demand becomes more solidly entrenched, and with domestic demand continuing to grow at a moderate pace, business sentiment could improve rapidly.
The Dutch government recently introduced a new law requiring all office buildings to have an energy label of at least C by 2023. While that gives the owners of these offices about 5 years to adjust, financial markets responded immediately.