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Dutch economic contraction 1.5 percent in Q1 2020

Christian Fernsby ▼ | June 25, 2020
According to the second estimate conducted by Statistics Netherlands (CBS), gross domestic product (GDP) declined by 1.5 percent in Q1 2020 relative to Q4 2019.
Netherlands street
Estimate   Netherlands street
The second GDP estimate is published 90 days after the end of each quarter. The growth rate has been adjusted upwards.

Topics: Dutch

In the first estimate, which was published on 15 May, contraction was 1.7 percent.

Compared to the first estimate, investments in fixed assets, including investments in construction and R&D, have been adjusted upwards.

Household consumption has been adjusted slightly upwards as well.

However, the trade balance has been adjusted downwards.

The overall picture of the economy has remained unchanged.

GDP contraction in Q1 is mainly attributable to a decline in household consumption.