Q4 economic growth 0.3 percent

25/03/2016 15:00
The Dutch economy grew 0.3 percent in Q4 2015 relative to the previous quarter as is shown in the second estimate on economic growth by Statistics Netherlands (CBS). The growth figure is the same as in the first estimate released on 11 February. The picture of the economy remains unchanged. The growth in Q4 was based on exports and investments.

First estimate

The first estimate - 45 days after the end of a quarter - is based on data available at that moment. Subsequently, more new information about the state of the Dutch economy is continually pouring in. In absolute terms, the adjustment of the second estimate relative to the first estimate averaged 0.1 percentage points over the past half decade, with the two extremes ranging between - 0.3 and + 0.4 percentage points.

Q2 and Q3 marginally adjusted

With each new estimate, CBS also recalculates the seasonally adjusted series of previously published quarters. In Q4 the first three quarters are also recalculated on the basis of the most recent data. The growth figures for Q2 and Q3 2015 have been adjusted upwards by 0.1 percent; both from 0.1 to 0.2 percent.

Growth relative to Q4 2014

The Dutch economy grew 1.6 percent in Q4 2015 compared to Q4 2014. According to the first estimate, the growth rate was also 1.6 percent.

Dutch economy grew 2.0 percent in 2015

The second estimate shows that economic growth over the entire year 2015 was 2.0 percent, i.e. 0.1 percentage points more than according to the first estimate. Government expenditure was adjusted upwards. As stated earlier, natural gas production was downscaled, which slowed down economic growth in 2015 by approximately 0.4 percentage points.

60 thousand new jobs

The second estimate shows that the number of both employee and self-employed jobs increased by 60 thousand in Q4 2015 compared to Q3. According to the first estimate, the increase was 48 thousand. Employment figures have been adjusted on the basis of additional information.

According to the second estimate, the number of employee and self-employed jobs rose by 117 thousand in Q4 2015 relative to Q4 2014. The growth figure presented in the first estimate was 101 thousand.