Dutch Q2 GDP Growth Stronger than Expected


The Dutch economy advanced 0.5 percent on quarter in the three months to June 2019, the same pace as in the previous period and beating market expectations of 0.3 percent, a preliminary estimate showed. Growth was mainly driven by net foreign demand, household consumption and fixed investment.

Net external demand was the main driver of growth, as exports surged 1.3 percent (vs 0.6 percent in Q1) and imports advanced at a slower 0.7 percent (vs 1.6 percent in Q1). Also, household consumption rose at a faster 0.8 percent, after a 0.2 percent gain in the previous period. Meanwhile, gross investment in fixed assets slowed (1.3 percent vs 2.7 percent); and there was a contraction in government spending (-0.1 percent vs 0.4 percent in Q1).

Compared with the same quarter of 2018, the GDP grew 2.0 percent, quickening from a 1.7 percent advance in the previous period. Both fixed investment (5.3 percent vs 5.0 percent in Q1) and household consumption (1.7 percent vs 0.7 percent) rose faster while government spending weakened somewhat (0.8 percent vs 1.3 percent). At the same time, net foreign demand contributed positively to the GDP growth, as exports advanced 3.0 percent (vs 1.3 percent in Q1) and imports increased at a softer 2.5 percent (vs 2.2 percent in Q1). 

Dutch Q2 GDP Growth Stronger than Expected


CBS | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
8/14/2019 10:03:37 AM