Dutch economy shrinks considerably

15/11/2012 09:30

The Dutch economy shrank by 1.1 percent in the third quarter compared to the preceding quarter. In the first two quarters, the Dutch economy had grown by 0.1 percent. 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 1.6 percent in the third quarter of 2012 compared to one year previously. Fixed capital formation fell by 6.4 percent relative to the third quarter of 2011. Both the government and the private sector invested less.  Investment in construction and transport equipment declined most notably. Household spending on goods and services fell by 1.8 percent. Household consumption was in decline for the sixth consecutive quarter. With an increase of 0.2 percent, government consumption was marginally higher than in the same period one year previously. Exports of goods and services also increased. The volume of exports was up by 1.6 percent and imports were 1.8 percent up from one year previously.

Except for the government and the health care sector, production declined in nearly all branches. At 8 percent, the decrease was largest in the construction sector. Output of the sector mineral extraction was also considerably down on one year previously (nearly 7 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.

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