Netherlands GDP Contracts Less Than Expected in Q1

The Dutch economy contracted 0.6 percent quarter-on-quarter in the first three months of 2014, better than a preliminary estimate of a 1.4 percent drop. The revision was almost entirely due to new European Union guidelines for GDP computations.

The first quarter GDP contraction follows two consecutive quarters of economic growth.  Figures for the fourth quarter of 2013 were also revised to show a slower 0.5 percent expansion.

Year-on-year, the GDP was unchanged (0.0 percent), following a preliminary estimate of a 0.5 percent drop.

Private consumption contracted at a slower 1 percent (-2.0 percent in the preliminary estimate), while government spending rose a meager 0.1 percent. Business investment expanded at a slower 4.9 percent while government investment increased 5.8 percent compared with a preliminary 1.5 percent contraction. Exports expanded 2.7 percent and imports increased 3.7 percent, better than a preliminary 1.4 percent and 1.8 percent rise.

Netherlands GDP Contracts Less Than Expected in Q1

CBS | Isabel Felino |
6/25/2014 11:00:20 AM