Modest growth Dutch economy compared to preceding quarter

24/09/2012 09:30

The Dutch economy improved by 0.2 percent in the second quarter compared to the preceding quarter. Quarter-on-quarter economic growth had also been 0.2 percent in the first quarter. In the second half of 2011, growth had been negative. The calculation of quarter-on-quarter economic growth takes into account the working-day pattern and the effects of seasonal variation.

Gross domestic product in billion euro at  2005 prices

Gross domestic product in billion euro at  2005 prices

The Dutch economy contracted by 0.4 percent in the second quarter of 2012 compared to one year previously. Fixed capital formation fell by 3.1 percent relative to the second quarter of 2011. Investments in construction declined most notably. Household spending on goods and services fell by 1.3 percent. Household consumption was in decline for the fifth consecutive quarter. With 0.1 percent, government consumption was marginally up from the same period one year previously. Exports of goods and services also increased. The volume of exports was up by 4.4 percent and imports were 3.9 percent up from one year previously.

Producers of goods generated 0.9 percent less output than one year previously. The construction sector faced the largest output slump (nearly 8 percent). Manufacturing output fell only marginally. Due to the relatively cold weather, the sector mineral extraction achieved a production growth by 9 percent.

The figures in this update are adjusted to the second estimate on economic growth in the second quarter of 2012. They have been revised compared to the first estimate published on 14 August 2012.

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.

For more information on economic indicators, the reader is referred to the Economic Monitor.