Marginal economic growth

24/06/2010 15:00

The Dutch economy grew by 0.6 percent in the first quarter compared with the same period in 2009. The slight increase was preceded by five quarters of negative growth. In the fourth quarter of 2009, the economy shrank by 2.2 percent.

Quarter-on-quarter growth was 0.3 percent, taking calendar and seasonal effects into account. The economy has been growing for some time relative to the preceding quarter, but quarter-on-quarter growth was more modest in the first quarter than in the previous two quarters.

Exports of goods and services grew substantially. The volume was 9.5 percent up on the first quarter of 2009. The volume of imports was 7.0 percent up on one year previously. Fixed capital formation plunged by 11.7 percent, a bit less than in the previous three quarters.

Household spending on goods and services was 0.7 percent down. The decline was obviously smaller than in the preceding quarters. With 2.1 percent, the growth rate of government consumption slowed down.

Output of manufactured goods increased just slightly compared to one year previously. Production in mineral extraction increased due to the cold winter weather conditions. Manufacturers also stepped up production compared to the first quarter of 2009, but output realised by the construction sector slumped, partly as a result of the low temperatures in winter.

Disposable for final expenditure and final expenditure (volume)

Disposable for final expenditure and final expenditure (volume)