GDP growth rate 0.2 percent in Q3 2018

© Hollandse Hoogte / Peter Hilz
According to the second estimate conducted by Statistics Netherlands (CBS), gross domestic product (GDP) grew by 0.2 percent in Q3 2018 relative to Q2 2018. The second GDP estimate is published approximately 90 days after the end of the quarter. GDP has grown continually over the past 18 quarters.

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.

GDP (volume), seasonally adjusted
   index (2010=100)
2011Quarter 1101.8
2011Quarter 2101.7
2011Quarter 3101.7
2011Quarter 4101
2012Quarter 1100.9
2012Quarter 2100.9
2012Quarter 3100.5
2012Quarter 499.8
2013Quarter 1100.1
2013Quarter 299.9
2013Quarter 3100.5
2013Quarter 4101.1
2014Quarter 1101
2014Quarter 2101.6
2014Quarter 3101.9
2014Quarter 4102.8
2015Quarter 1103.4
2015Quarter 2103.7
2015Quarter 3104.1
2015Quarter 4104.2
2016Quarter 1105.2
2016Quarter 2105.4
2016Quarter 3106.5
2016Quarter 4107.3
2017Quarter 1107.8
2017Quarter 2108.8
2017Quarter 3109.6
2017Quarter 4110.6
2018Quarter 1111.2
2018Quarter 2111.9
2018Quarter 3112.1

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.

GDP (volume)
   mutatie (year-on-year % change)
2011Quarter 12.8
2011Quarter 22.1
2011Quarter 31.4
2011Quarter 40
2012Quarter 1-1.1
2012Quarter 2-0.6
2012Quarter 3-1.2
2012Quarter 4-1.2
2013Quarter 1-1.7
2013Quarter 2-0.5
2013Quarter 30.3
2013Quarter 41.4
2014Quarter 11.3
2014Quarter 21.4
2014Quarter 31.1
2014Quarter 41.8
2015Quarter 11.9
2015Quarter 22.1
2015Quarter 32.5
2015Quarter 41.4
2016Quarter 12.3
2016Quarter 22.4
2016Quarter 32.1
2016Quarter 42
2017Quarter 13
2017Quarter 22.9
2017Quarter 32.8
2017Quarter 42.7
2018Quarter 12.8
2018Quarter 23.1
2018Quarter 32.4

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.

Total jobs (seasonally adjusted)
   mutatie (quarter-on-quarter change (1,000))
2011Quarter 156
2011Quarter 245
2011Quarter 312
2011Quarter 4-4
2012Quarter 1-3
2012Quarter 2-16
2012Quarter 3-31
2012Quarter 4-39
2013Quarter 1-51
2013Quarter 2-21
2013Quarter 3-10
2013Quarter 4-10
2014Quarter 1-12
2014Quarter 215
2014Quarter 316
2014Quarter 429
2015Quarter 144
2015Quarter 234
2015Quarter 330
2015Quarter 426
2016Quarter 1-5
2016Quarter 237
2016Quarter 337
2016Quarter 449
2017Quarter 153
2017Quarter 257
2017Quarter 362
2017Quarter 472
2018Quarter 167
2018Quarter 257
2018Quarter 356

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