GDP growth rate 0.2 percent in Q3 2018

The growth rate is the same as in the first estimate, which was published on 14 November. Compared to the first estimate, household consumption was adjusted downwards and investments upwards. The export surplus was adjusted downwards.

Second estimate

The second estimate is conducted 90 days after the end of the quarter. The first estimate, which is calculated 45 days after the end of the quarter, is based on the most recent data available at that moment. After the first estimate, more new information about the state of the Dutch economy keeps pouring in, e.g. data about the sectors construction business services, hotels and restaurants, government care and the financial sector. These data are subsequently incorporated into new calculations.

In absolute terms, adjustments in the second estimate relative to the first have averaged 0.1 percentage point over the past half decade, with the two extremes at - 0.3 and + 0.3 percentage point.

No adjustments of growth in previous quarters

With each new estimate, CBS also recalculates the seasonally adjusted series of previously published quarters. However, this has not resulted in adjustments of quarter-on-quarter growth in the previous quarters.

Growth relative to Q3 2017

Year-on-year, the economic growth rate in Q3 was 2.4 percent. The first estimate also resulted in a growth rate of 2.4 percent.

56 thousand new jobs

The second estimate shows that the number of employee and self-employed jobs increased by 56 thousand in Q3 2018 compared to Q2 2018. The first estimate suggested an increase of 60 thousand jobs.

Year-on-year, the number of employee and self-employed jobs grew by 268 thousand according to the second estimate over Q3, versus 271 thousand according to the first estimate.