Dutch Q1 GDP Growth Revised Up to 0.6%
The Dutch economy advanced by 0.6 percent on quarter in the three months to March of 2018, slowing from an upwardly revised 0.9 percent rise in the fourth quarter of 2017, beating market expectations of a 0.5 percent expansion, and above the preliminary estimates of 0.5 percent expansion.
6/22/2018 6:35:42 AM
Compared to the fourth quarter of 2017, output rose faster for household spending (1.5 percent from 0.2 percent in Q4) and fixed investment rebounded (2.7 percent from -1.1 percent). Meanwhile, government spending (0.4 percent vs 0.2 percent) and changes in inventories (0.7 percent from 0.5 percent in Q4) contributed little to the expansion. Meantime, net external trade contributed negatively to growth as exports declined 0.6 percent (1.1 percent in Q4) while imports went up 0.5 percent (0.9 percent in Q4).
Year-on-year, the Dutch economy grew by 2.8 percent in the first quarter of 2018, accelerating slightly from a downwardly revised 2.7 percent expansion in the previous period. Growth was primarily driven by fixed investment (6.3 percent from 5.9 percent in Q4) and household expenditure (3.6 percent vs 1.1 percent). Also, public spending advanced more (1.3 percent vs 0.9 percent). Meanwhile, net external trade contributed negatively to growth for the first time in more than two years, as imports increased 3.9 percent (5.5 percent in Q4) and exports went up at a slower 2.5 percent (6.2 percent in Q4).