Economic growth 0.6 percent in Q2

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According to the second estimate by Statistics Netherlands (CBS), the Dutch economy grew 0.6 percent in Q2 compared to Q1 2016. This is equal to the growth figure published in the first estimate released on 12 August. Economic growth is fuelled by a pick-up in investments and consumption. The trade balance also contributed positively to economic growth.

First estimate

The first estimate is conducted 45 days after the end of a quarter and is based on information available at that moment. After the first estimate, more new information about the state of the Dutch economy is continually pouring in. Incoming data about the sectors business services and construction and the hotels and restaurants sector are incorporated in the new calculations. 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.

No adjustments in the previous quarters

With each new estimate, CBS also recalculates the seasonally adjusted series of previously published quarters. The second estimate over Q2 2016 has not given rise to corrections in the quarter-on-quarter growth of preceding quarters.

Growth relative to Q2 2015

Year-on-year, the economic growth in Q2 was 2.3 percent, the same figure as presented in the first estimate.

Thirty-five thousand new jobs in Q2 2016

The second estimate shows that the number of employee and self-employed jobs increased by 35 thousand in Q2 2016 compared to the previous quarter. Most new jobs were created in the sector business services, mainly temp jobs (23 thousand) and in trade, transport and hotels and restaurants (14 thousand new jobs). On the basis of information available, the first estimate suggested an increase of 38 thousand jobs in Q2.

According to the second estimate, the number of jobs of employees and self-employed grew by 101 thousand in Q2 2016 relative to Q2 2015, versus 104 thousand according to the first estimate.