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Dutch Q2 GDP growth confirmed at 1.5%

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Staff Writer | October 12, 2017
Dutch economy
Europe   Household spending increased

The Dutch economy advanced 1.5% on quarter in the second three months of 2017, following a 0.6% expansion in the previous period and matching the preliminary estimate.

It was the strongest growth rate since the last quarter of 2007, mainly driven by higher household consumption and exports while government spending rebounded.

Household spending increased at a faster 0.8% (0.2% in the previous period) and government consumption rebounded (0.8% compared to -0.1% in the previous period) while gross fixed capital formation slowed (0.8% compared to 4.5%).

Exports went up 1.8% (1.6% in the previous period) and imports rose 1.2% (2% in the previous period).

Year-on-year, the economy expanded 3.3% in the second quarter of the year, above 3.2% in the previous period. It was also the highest expansion since the last quarter of 2007.

Household spending increased faster (2.4% compared to 1.7% in the previous period).

On the other hand, government consumption grew by 1.1%, the same pace as in the previous period, while investment went up slower (4.2% compared to 6.6%).

Exports rose 4.6% (5.5% in the previous period. While imports went up at a slower 3.8% (5.3% in the previous period).

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