Second estimate for third quarter 2009: economy shrinks by 3.7 percent

23/12/2009 09:30

The Dutch economy shrank by 3.7 percent in the third quarter of 2009 compared with the same quarter last year. Although this second estimate is unchanged from the first estimate, published on 13 November, there were some underlying revisions. On the expenditure side, estimates of exports, household consumption and government consumption were adjusted slightly upwards from the first estimate, while the estimate of investment spending was reduced slightly. The amount of stocks used up was also slightly higher. On the production side developments in construction and in agriculture were slightly more positive than initially estimated, while mineral extraction and production of financial institutions were adjusted downwards slightly.

Quarter-on-quarter growth 0.5 percent

Dutch economic growth in the third quarter was 0.5 percent compared with the second quarter, after adjustment for working day and seasonal effects. This quarter-on-quarter growth is 0.1 of a percent point higher than originally estimated. 

Source:

StatLine, economic growth