The Dutch quarterly economic growth was revised lower to 0.4 percent in the second quarter of 2019 from a preliminary estimate of 0.5 percent. Household consumption and net foreign demand were the main drivers of the expansion, while fixed investment rose at a softer pace.
Household consumption advanced 0.8 percent in the second quarter (vs 0.2 percent in Q1); and net external demand contributed positively to the GDP growth, as exports rose 1.2 percent (vs 0.6 percent in Q1) and imports increased at a softer 1.0 percent (vs 1.7 percent in Q1). Meanwhile, fixed investment expanded at a softer 1.2 percent (vs 2.7 percent in Q1) and government spending went up by just 0.1 percent (vs 0.4 percent in Q1).
Year-on-year, the economy expanded 1.8 percent, compared to a preliminary estimate of 2.0 percent and the previous period's 1.7 percent. The expansion was mainly driven by fixed investment (5.1 percent vs 5.0 percent in Q1) and household consumption (1.8 percent vs 0.7 percent) while government spending growth weakened (1.0 percent vs 1.3 percent). On the other hand, net foreign demand contributed negatively to the GDP growth, as exports advanced 2.8 percent (vs 1.3 percent in Q1) while imports increased at a faster 2.9 percent (vs 2.2 percent in Q1).
9/23/2019 2:31:06 PM