Second estimate fourth quarter growth 2009: economy shrank by 2.2 percent

25/03/2010 09:30

The Dutch economy shrank by 2.2 percent in the fourth quarter of 2009 compared with the same quarter in 2008. This second estimate is unchanged from the first estimate published on 12 February 2009. There have been some adjustments in the underlying estimates. On the spending side of the economy, the decreases in household consumption and fixed capital formation were slightly larger, while the growth in government consumption was slightly higher, and the decrease in international trade was smaller than in the first estimate. On the production side of the economy, mineral extraction (natural gas) was more positive than previously estimated, while production by the construction industry was lower. 

Quarter-on-quarter growth 0.2 percent

After adjustment for seasonal and working day effects, the Dutch economy grew by 0.2 percent in the fourth quarter of 2009 compared with the third quarter. Mainly as a result of the low production by the construction industry, this quarter-on-quarter growth rate was adjusted downwards by 0.1 of a percent point from the previously published estimate.

Source:

StatLine, economic growth