Growth Dutch economy slows down

22/09/2011 15:00

The Dutch economy grew 1.6 percent in the second quarter of 2011 compared to the same period last year. Growth was far below the level of the first quarter, when the economy grew 2.8 percent relative to one year previously. If the working-day pattern and the effects of seasonal variation are taken into account, the gross domestic product (GDP) grew by 0.2 percent in the second quarter relative to the preceding quarter.

Fixed capital formation was 4.8 percent up on one year previously. The growth rate was considerably lower than in the previous quarter (10.1 percent). The growth of investments in the construction sector was below the level of the first quarter, when the construction sector benefited from the relatively mild weather conditions.

Household consumption decreased by 0.6 percent relative to the second quarter of 2010. Dutch households spent more on services and durable goods, but less on natural gas and food, drinks and tobacco. Government consumption was 0.6 percent higher than one year previously.

Exports grew by 5.3 percent, imports by 4.4 percent. The growth of imports and exports was down on the first quarter. The growth of exports of Dutch products in particular slowed down.

Producers of goods generated 1.7 percent more output than one year previously. With approximately 4 percent, output growth was highest in the construction sector and in manufacturing industry. Output in the sector commercial services showed 2.2 percent growth. Output generated by the public sector and the health care sector grew 1.6 percent.

Disposable for final expenditure and final expenditure (volume)

Disposable for final expenditure and final expenditure (volume)

More figures can be found in dossier Business cycle.