Dutch Economy Contracts 1.4% in Q1


Netherlands’ GDP decreased 1.4 percent in the first three months of 2014, following a 1 percent expansion in the previous period, as exports of natural gas fell sharply due to the mild winter.

The first quarter GDP contraction follows three consecutive quarters of economic growth.  

Compared with the same quarter of 2013, the economy shrank 0.5 percent in the first three months of 2014.

Exports of natural gas were more than a quarter lower and household natural gas consumption fell by almost a third. 

Consumers also spent less on food and beverages. However, the warm weather had a positive effect on spending in durable goods, such as clothing and electronics.

The construction investment increased substantially, partly due to the favorable weather conditions, while investment in commercial vehicles fell. 

Dutch Economy Contracts 1.4% in Q1


CBS | Joana Taborda | joana.taborda@tradingeconomics.com
5/15/2014 10:33:58 AM