Growth Dutch economy decreases

15/11/2011 15:00

The Dutch economy grew by 1.1 percent in the third quarter of 2011 compared to the same period last year. Growth was below the level of the second quarter, when the economy grew 1.6 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) was 0.3 percent smaller in the third quarter than in the preceding quarter.

Fixed capital formation was 4.6 percent up on one year previously. The growth rate was roughly the same as in the previous quarter.Household consumption decreased by 1.1 percent relative to the third quarter of 2010.

Dutch households spent over 2 percent less on goods. Spending on services was slightly up. Government consumption was 0.2 percent lower than one year previously.

Exports grew by 4.0 percent, imports by 3.8 percent. The growth of imports and exports was slightly smaller than in the second quarter. Growth of re-exports was down; the growth of exports of Dutch products remained stable.

Producers of goods generated 2.5 percent more output than one year previously. At 5.4 percent, output growth was highest in mining. Output generated by the health care sector grew by 4.0 percent; on the other hand, output generated by public sector shrank by 1.3 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.