GDP growth rate 0.4 percent in Q2 2019

The growth rate has been adjusted downwards. In the first estimate, which was published on 14 August, the growth rate was 0.5 percent. Compared to the first estimate, the trade balance in particular has been revised downwards. Growth in Q2 2019 was mainly related to household consumption and investments in fixed assets.

Second estimate

The second estimate is conducted 90 days after the end of each 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 on the sectors construction, business services, accommodation and food services, the public sector, the care sector 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 Q1 2019 has also been adjusted from 0.5 to 0.4 percent.

Growth relative to Q2 2018

Year-on-year, the GDP growth rate in Q2 was 1.8 percent. This was 2.0 percent in the first estimate.

42 thousand new jobs

The second estimate shows that the number of employee and self-employed jobs increased by 42 thousand in Q2 2019 compared to Q1 2019. The first estimate suggested an increase of 40 thousand jobs.

In Q2 2019, the second estimate suggested a growth of 201 thousand employee and self-employed jobs compared to the same quarter in 2018, versus 198 thousand according to the first estimate.

Job figures are adjusted when additional information becomes available.