Dutch Economy Contracts 0.1% in Q2

In the second quarter of 2013, Netherlands' GDP shrunk 0.1 percent quarter-on-quarter, revised up from an early estimate of -0.2 percent. The final figures show the Dutch economy remains in recession, having posted the slowest contraction since Q2 of 2012.

On the expenditure side, business investment plunged 10.5 percent, up from -13.5 percent in Q1. Government investment fell 0.8 percent up from a -4.8 percent preliminary estimate and -4.5 percent registered in the previous quarter. 

Private consumption fell 2.3 percent, slightly up from Q1's 2.4 percent decrease while government consumption edged down to -0.7 percent from -0.6 percent in Q1. Exports (+1.1 percent) and imports (-0.2 percent) were both revised upwards. 

On the production side, the output of the construction, financial institutions and business services was up quarter-on-quarter while that of agriculture, catering, transport and storage fell during the same period.

Compared with the previous quarter, the number of jobs fell by 34 thousand (-0.4 percent), up from a preliminary estimate of 41 thousand lost units. There were 137 thousand fewer jobs than in the same quarter of 2012 (-1.7 percent).

Dutch Economy Contracts 0.1% in Q2

Nuno Fontes | nuno@tradingeconomics.com
9/24/2013 9:10:21 AM