Economy continues to grow

23/09/2010 15:00

The Dutch economy grew by 2.2 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 1.0 percent, taking into account calendar and seasonal effects. The second quarter of 2010 was the fourth quarter in a row showing quarter-on-quarter growth.

Exports of goods and services grew substantially. The volume was up by 12.2 percent on the second quarter of 2009. With 14.1 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 but, with 0.1 percent, the growth rate was very modest. The growth rate of government consumption (+1.7 percent) slowed down relative to the first quarter.

In the second quarter of 2010, fixed capital formation was 4.2 percent down on one year previously. This decrease was far less substantial than in the preceding five quarters, when it varied continually between 8 and 16 percent.

Production in mineral extraction grew due to the weather conditions. Exporting sectors like trade, manufacturing industry and the transport sector also stepped up their production compared to the second quarter of 2009, but output realised by the construction sector slumped, just like in the first quarter.

Disposable for final expenditure and final expenditure (volume)

Disposable for final expenditure and final expenditure (volume)