Dutch Economy Expands Faster than Expected

In the second quarter of 2014, Netherlands' GDP grew 0.5% quarter-on-quarter up from a 0.4% contraction in the previous period. GDP Growth bounced back to positive territory mainly due to a sharp increase in exports which offset stagnated private consumption and investment.

Both exports of Dutch products and re-exports (exports of previously imported products) grew in Q2. Exports of natural gas and oil products was lower, but this was more than offset by the sharp increase in exports of basic metals and metal products, machinery and equipment. Sales of agricultural products also increased.

Private consumption remained stangnated and the number of jobs continued to fall. There were less 8 thousand jobs when compared to the previous quarter and less 80 thousand than in the same period of 2013.

Investment in machinery and computers grew at a slower pace than in the first quarter. Investment in buildings contracted, particularly in infrastructure. Industrial production was up by 1.5% yoy in Q2, down from 3.7% in Q1.

When compared to the same period in the previous year, GDP grew 0.9%, up from 0.0% in Q1.

Dutch Economy Expands Faster than Expected

CBS | Nuno Fontes | nuno@tradingeconomics.com
8/14/2014 9:19:03 AM