Dutch economy shrinks considerably

21/12/2012 09:30

The Dutch economy shrank by 0.9 percent in the third quarter compared to the preceding quarter. Taking into account the working-day pattern and the effects of seasonal variation, quarter-on-quarter economic growth was 0.1 percent in the first and the second quarter of 2012.

Gross domestic product in billion euro at  2005 prices

Gross domestic product in billion euro at  2005 prices

The Dutch economy contracted by 1.5 percent in the third quarter of 2012 compared to the same period one year previously. Fixed capital formation fell by 5.7 percent relative to the third quarter of 2011. Private sector investments were down by 8.1 percent. Government investments, on the other hand, were 3.4 percent higher than one year previously. Household spending on goods and services fell by 1.4 percent. Household consumption was in decline for the sixth consecutive quarter. With an increase of 0.7 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 2.1 percent up and the volume of imports was 2.6 percent up from the third quarter of 2011.

Production declined in nearly all branches. With 7 percent, the most substantial decline was observed in the sectors construction and mineral extraction.

The figures in this update are adjusted to the second estimate on economic growth in the third quarter of 2012. They have been revised compared to the first estimate published on 15 November 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.