GDP growth rate remains 0.5 percent in Q1 2019

© Hollandse Hoogte / Kees van de Veen
According to the second estimate conducted by Statistics Netherlands (CBS), gross domestic product (GDP) showed 0.5 percent growth in Q1 2019 relative to Q4 2018. The second GDP estimate is published 90 days after the end of each quarter.

The growth rate is the same as in the first estimate, which was published on 14 May. Growth in Q1 2019 was mainly due to increased investments in fixed assets. The trade balance made a negative contribution to the growth of GDP.

GDP (volume), seasonally adjusted
   index (2010=100)
2012Quarter 1100.8
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 4104.1
2016Quarter 1105.1
2016Quarter 2105.3
2016Quarter 3106.5
2016Quarter 4107.4
2017Quarter 1108
2017Quarter 2108.9
2017Quarter 3109.7
2017Quarter 4110.5
2018Quarter 1111.2
2018Quarter 2111.9
2018Quarter 3112.2
2018Quarter 4112.8
2019Quarter 1113.3

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, the adjustment of the second estimate relative to the first estimate has averaged nearly 0.1 percentage point over the past half decade, with the two extremes ranging between - 0.1 and + 0.3 percentage points.

Quarter-on-quarter growth adjustment

With each new estimate, CBS also recalculates the seasonally adjusted series of previously published quarters. As a result, the quarter-on-quarter growth in Q3 2018 has been adjusted from 0.1 to 0.2 percent. Quarter-on-quarter growth in the other quarters has not been adjusted.

Growth relative to Q1 2018

Year-on-year, the GDP growth rate in Q1 was 1.7 percent. In the first estimate, the growth rate was also 1.7 percent.

GDP (volume)
   mutatie (year-on-year % change)
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 12.1
2016Quarter 22.3
2016Quarter 32.1
2016Quarter 42.2
2017Quarter 13.2
2017Quarter 23.1
2017Quarter 32.8
2017Quarter 42.6
2018Quarter 12.8
2018Quarter 23
2018Quarter 32.5
2018Quarter 42.2
2019Quarter 11.7

Annual figures

Simultaneously with the publication of the second estimate over Q1 2019, revised annual figures over 2017 (final) and 2018 (provisional) are published. On the basis of the most recent data, the economic growth rate for 2018 (provisionally) was adjusted from 2.7 to 2.6 percent. The growth rate for 2017 has not been adjusted and remains at 2.9 percent.

56 thousand new jobs

The second estimate shows that the number of employee and self-employed jobs increased by 56 thousand in Q1 2019 compared to Q4 2018. The first estimate suggested an increase of 53 thousand jobs.

In Q1 2019, the second estimate suggested a growth of 226 thousand employee and self-employed jobs compared to the same quarter in 2018, versus 230 thousand according to the first estimate.
Job figures are adjusted when additional information becomes available.

Total jobs (seasonally adjusted)
   change (quarter-on-quarter change (1,000))
2012Quarter 1-4
2012Quarter 2-16
2012Quarter 3-31
2012Quarter 4-39
2013Quarter 1-53
2013Quarter 2-22
2013Quarter 3-10
2013Quarter 4-11
2014Quarter 1-12
2014Quarter 216
2014Quarter 320
2014Quarter 430
2015Quarter 139
2015Quarter 233
2015Quarter 334
2015Quarter 440
2016Quarter 115
2016Quarter 254
2016Quarter 342
2016Quarter 447
2017Quarter 154
2017Quarter 256
2017Quarter 372
2017Quarter 474
2018Quarter 169
2018Quarter 252
2018Quarter 358
2018Quarter 455
2019Quarter 156

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