Second estimate third quarter 2011: economic growth 1.1 percent

22/12/2011 09:30

In the third quarter of 2011, Dutch economic growth was 1.1 percent compared with the same period last year. This second estimate of economic growth is the same as the first estimate published on 15 November. There are a number of revisions in the underlying components of economic growth, however. Compared with the first estimate, on the spending side household consumption fell by slightly more, while consumption by the government and fixed capital formation were slightly better than in the first estimate. The balance of trade for goods was higher than previously estimated. On the production side, mineral extraction, manufacturing, and trade and repairs were revised upwards and business services were adjusted downwards.

Quarter-on-quarter growth: minus 0.2 percent

After correction for working day and seasonal effects, the Dutch economy shrank by 0.2 percent in the third quarter compared with the previous quarter. This quarter-on-quarter contraction is 0.1 of a percent point smaller than in the previously published estimate.

StatLine, economic growth