Economy continues to grow

13/08/2010 15:00

The Dutch economy grew by 2.1 percent in the second quarter compared with the same period in 2009. The increase was clearly more substantial than in the first quarter, when the economy grew by 0.6 percent.

Quarter-on-quarter growth was 0.9 percent, taking calendar and seasonal effects into account. The second quarter of 2010 was the fourth quarter in a row in which the economy grew relative to one quarter previously.

Exports of goods and services grew substantially. The volume was up by 11.5 percent on the second quarter of 2009. With 13.5 percent, the volume of imports was also considerably higher.

Household spending on goods and services grew for the first time since the end of 2008. Household consumption was up by 0.7 percent, entirely due to increased car sales and higher gas consumption. With 1.8 percent, the growth rate of government consumption slowed down.

In the second quarter of 2010, fixed capital formation was 4.8 percent down on one year previously. This decrease was much less substantial than in the preceding five quarters, when fixed capital formation was continually down by 8 to 16 percent.

Production in mineral extraction increased due to the weather conditions. Sectors geared towards exports, like trade, manufacturing and the transport sector, also stepped up their production compared to the second quarter of 2009. Output realised by the construction sector, on the other hand, slumped, just like in the first quarter.

Disposable for final expenditure and final expenditure (volume)

Disposable for final expenditure and final expenditure (volume)