In the fourth quarter, GDP contracted 0.2% in seasonally adjusted terms over the previous quarter, which represents an improvement over the 1.0% drop recorded in the previous quarter but, nonetheless, puts the economy back into technical recession. That said, the reading bested market expectations, which had anticipated the economy contracting 0.3%. On an annual basis, the economy declined 0.9%, also an improvement over the 1.5% drop registered in the third quarter. For the full 2012, GDP contracted 0.9%, which contrasted the 1.0% expansion registered in 2011. The Q4 contraction came on the back of depressed consumption. Total consumption deteriorated over the previous quarter, as private consumption fell a sharp 1.1% quarter-on-quarter (Q3 2012: -0.4% qoq). In addition, gross fixed investment declined 0.7% over the previous quarter (Q3: -2.8% qoq). In contrast, the contribution from the external sector to overall economic growth improved from minus 1.1 percentage points in Q3 to plus 0.5 percentage points. Exports of goods and services swung from a 1.8% contraction in the third quarter to a 0.6% expansion in the fourth, while imports experienced zero growth in the final quarter of 2012 (Q3: -0.4% qoq).
Economy falls back into recession
February 14, 2013
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Netherlands GDP Chart
Note: Quarter-on-quarter changes of seasonally adjusted GDP and year-on-year variation in %.
Source: Statistics Netherlands (CBS) and FocusEconomics Consensus Forecast.
Netherlands Economic News
October 20, 2016
Dutch consumer sentiment rose markedly in October.
October 3, 2016
The NEVI Manufacturing Purchasing Managers’ Index (PMI), produced by IHS Markit and NEVI, decreased marginally from 53.5 in August to 53.4 in September.
September 29, 2016
The producer confidence indicator, which measures Dutch manufacturers’ sentiment, increased from August’s 1.2 to 3.4 in September, according to the Central Bureau of Statistics (CBS), thus moving further above the 0-point threshold that separates optimistic from pessimistic sentiment. According to the CBS, the improvement reflected that producers had become more positive regarding order books and future output over the next three months but less positive about their stocks of finished products.
September 23, 2016
Dutch economic growth held steady in the second quarter of the year on the back of robust fixed investment, while lackluster performance in the external sector and subdued household and government consumption dragged on the overall result.
September 20, 2016
Dutch consumer sentiment improved notably in September.